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

Prospector Partners LLC trimmed its position in General Dynamics Co. (NYSE:GD) by 28.6% in the third quarter, according to its most recent Form 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 quarter. 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 and other institutional investors have also recently bought and sold shares of GD. FMR LLC increased its holdings in General Dynamics by 0.5% in the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares during the period. Bank of Montreal Can boosted its position in shares of General Dynamics by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,356,939 shares of the aerospace company’s stock valued at $407,258,000 after acquiring an additional 19,213 shares in the last quarter. Associated Banc Corp increased its stake in General Dynamics by 7.3% in the third quarter. Associated Banc Corp now owns 1,104 shares of the aerospace company’s stock valued at $334,000 after acquiring an additional 75 shares during the period. Hancock Whitney Corp raised its position in General Dynamics by 1.3% in the third quarter. Hancock Whitney Corp now owns 7,634 shares of the aerospace company’s stock worth $2,307,000 after purchasing an additional 100 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in General Dynamics during the third quarter worth about $74,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $281.30 on Tuesday. The business’s 50-day simple moving average is $299.91 and its 200 day simple moving average is $295.92. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $77.35 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GD. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Wells Fargo & Company lifted 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. Finally, Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. 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 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.