SpiderRock Advisors LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

SpiderRock Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 30.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,716 shares of the aerospace company’s stock after selling 1,634 shares during the period. SpiderRock Advisors LLC’s holdings in General Dynamics were worth $1,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GD. MFA Wealth Advisors LLC grew its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC bought a new stake in shares of General Dynamics during the 3rd quarter valued at $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics in the 1st quarter worth $29,000. American Capital Advisory LLC bought a new position in General Dynamics in the 2nd quarter worth $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in General Dynamics during the third quarter valued at about $30,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 1.1 %

GD stock opened at $309.47 on Monday. The firm has a fifty day moving average price of $301.62 and a 200 day moving average price of $295.60. General Dynamics Co. has a fifty-two week low of $238.31 and a fifty-two week high of $313.11. The firm has a market cap of $85.09 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the firm earned $3.04 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GD. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.52% 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.