Prime Capital Investment Advisors LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Prime Capital Investment Advisors LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 19.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,064 shares of the aerospace company’s stock after selling 2,945 shares during the period. Prime Capital Investment Advisors LLC’s holdings in General Dynamics were worth $3,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after buying an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Up 0.6 %

Shares of GD stock opened at $313.97 on Thursday. The company’s fifty day simple moving average is $302.25 and its two-hundred day simple moving average is $296.11. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The stock has a market cap of $86.33 billion, a P/E ratio of 23.91, a PEG ratio of 1.89 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 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 period in the previous year, the company posted $3.04 earnings per share. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Barclays raised their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wells Fargo & Company increased their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Susquehanna lifted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $323.69.

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.