Prospector Partners LLC Has $5.33 Million Stock Position in General Dynamics Co. (NYSE:GD)

Prospector Partners LLC reduced its stake in General Dynamics Co. (NYSE:GD - Free Report) by 28.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,640 shares of the aerospace company's stock after selling 7,060 shares during the period. Prospector Partners LLC's holdings in General Dynamics were worth $5,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. Fifth Third Wealth Advisors LLC increased its position in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock worth $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. increased its holdings in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock worth $4,533,000 after purchasing an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock valued at $11,204,000 after buying an additional 3,363 shares during the last quarter. Lummis Asset Management LP grew its position in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock worth $3,133,000 after buying an additional 2,551 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of General Dynamics by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company's stock worth $177,881,000 after buying an additional 5,069 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $309.00 to $306.00 and set a "hold" rating for the company in a report on Friday, November 1st. Barclays boosted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. TD Cowen upgraded General Dynamics to a "strong-buy" rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Finally, Seaport Res Ptn cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $323.69.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company's stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of NYSE:GD traded up $0.66 during trading hours on Tuesday, hitting $282.01. The stock had a trading volume of 1,095,135 shares, compared to its average volume of 1,114,016. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock's fifty day simple moving average is $299.91 and its 200 day simple moving average is $295.92. The firm has a market capitalization of $77.54 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90.

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

About General Dynamics

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.