Olstein Capital Management L.P. Has $4.53 Million Stake in General Dynamics Co. (NYSE:GD)

Olstein Capital Management L.P. grew its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 36.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the aerospace company's stock after purchasing an additional 4,000 shares during the period. Olstein Capital Management L.P.'s holdings in General Dynamics were worth $4,533,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in shares of General Dynamics by 4.0% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company's stock worth $1,351,041,000 after acquiring an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company's stock valued at $601,756,000 after purchasing an additional 47,915 shares in the last quarter. Boston Partners increased its stake in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company's stock worth $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company's stock worth $466,049,000 after purchasing an additional 23,304 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GD. Royal Bank of Canada raised their price target on General Dynamics from $320.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Susquehanna boosted their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a "positive" rating in a research note on Thursday, October 17th. Citigroup raised their price target 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. Barclays lifted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Finally, Sanford C. Bernstein cut their price objective 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. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $323.69.

General Dynamics Stock Down 0.8 %

GD stock traded down $2.38 during midday trading on Thursday, hitting $306.08. 887,098 shares of the company's stock were exchanged, compared to its average volume of 1,097,051. The stock has a market capitalization of $84.16 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.78 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. The firm has a 50 day moving average price of $301.25 and a 200-day moving average price of $295.38. General Dynamics Co. has a 12-month low of $238.31 and a 12-month high of $313.11.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current year.

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.