Hilton Capital Management LLC Buys New Position in General Dynamics Co. (NYSE:GD)

Hilton Capital Management LLC bought a new position in General Dynamics Co. (NYSE:GD - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 20,737 shares of the aerospace company's stock, valued at approximately $6,267,000.

Other large investors also recently added to or reduced their stakes in the company. Coston McIsaac & Partners grew its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock valued at $53,000 after buying an additional 33 shares during the period. Global X Japan Co. Ltd. boosted its position in shares of General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company's stock worth $448,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust boosted its position in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company's stock worth $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC boosted its position in shares of General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company's stock worth $672,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC boosted its position in shares of General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company's stock worth $2,356,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

GD stock traded down $0.91 during mid-day trading on Wednesday, hitting $280.05. 1,647,213 shares of the stock were exchanged, compared to its average volume of 1,107,100. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a fifty day moving average price of $301.71 and a 200 day moving average price of $296.28. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The stock has a market capitalization of $77.01 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GD. Royal Bank of Canada upped their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Finally, Seaport Res Ptn cut General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.69.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company's stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.