Quantbot Technologies LP Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Quantbot Technologies LP lessened its holdings in General Dynamics Co. (NYSE:GD) by 65.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,106 shares of the aerospace company’s stock after selling 11,420 shares during the quarter. Quantbot Technologies LP’s holdings in General Dynamics were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

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 completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GD. Barclays raised their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Royal Bank of Canada raised their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

General Dynamics stock opened at $284.06 on Friday. The stock has a fifty day moving average price of $298.17 and a 200 day moving average price of $295.56. General Dynamics Co. has a 52 week low of $245.01 and a 52 week high of $316.90. The firm has a market capitalization of $78.11 billion, a P/E ratio of 21.63, a PEG ratio of 1.71 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

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.