Hotchkis & Wiley Capital Management LLC Sells 8,220 Shares of General Dynamics Co. (NYSE:GD)

Hotchkis & Wiley Capital Management LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 411,839 shares of the aerospace company’s stock after selling 8,220 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in General Dynamics were worth $124,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GD. MFA Wealth Advisors LLC grew its holdings in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC purchased a new position in General Dynamics during the third quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth about $30,000. Finally, Atlantic Edge Private Wealth Management LLC increased its position in General Dynamics by 120.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after buying an additional 60 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD opened at $276.33 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $298.17 and its 200 day moving average price is $295.58. The firm has a market capitalization of $75.98 billion, a PE ratio of 21.05, a PEG ratio of 1.72 and a beta of 0.60. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last issued 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). The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 owns 3,592 shares of the company’s stock, valued at $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 available at this link. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Susquehanna boosted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Citigroup boosted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seven investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

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.