Prospector Partners LLC Sells 430 Shares of General Dynamics Co. (NYSE:GD)

Prospector Partners LLC lowered its holdings in General Dynamics Co. (NYSE:GD) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,700 shares of the aerospace company’s stock after selling 430 shares during the period. Prospector Partners LLC’s holdings in General Dynamics were worth $7,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Gladstone Capital Management LLP bought a new stake in shares of General Dynamics in the fourth quarter valued at approximately $3,869,000. SWP Financial LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $227,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth $28,107,000. Evercore Wealth Management LLC increased its position in shares of General Dynamics by 1.5% in the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after purchasing an additional 78 shares during the period. Finally, TD Asset Management Inc raised its stake in General Dynamics by 7.2% in the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after purchasing an additional 5,405 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.7 %

NYSE:GD opened at $306.87 on Friday. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market cap of $84.19 billion, a PE ratio of 25.03, a P/E/G ratio of 1.64 and a beta of 0.61. The firm’s 50 day simple moving average is $294.79 and its 200 day simple moving average is $291.09.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.70 EPS. On average, research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.85%. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

GD has been the topic of a number of analyst reports. Barclays increased their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.06.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s 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 in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by corporate insiders.

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.