Hilton Capital Management LLC Purchases New Stake in General Dynamics Co. (NYSE:GD)

Hilton Capital Management LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,737 shares of the aerospace company’s stock, valued at approximately $6,267,000.

A number of other large investors have also modified their holdings of the stock. Global X Japan Co. Ltd. lifted its holdings in General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares during the period. Coston McIsaac & Partners grew its holdings in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust increased its stake in General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC boosted its position in shares of General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Barclays upped their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Down 1.8 %

Shares of NYSE GD opened at $280.98 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The company’s 50 day moving average price is $301.71 and its 200-day moving average price is $296.28. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The company has a market capitalization of $77.26 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its 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). The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. Equities analysts forecast 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.