702 Shares in General Dynamics Co. (NYSE:GD) Bought by Balboa Wealth Partners

Balboa Wealth Partners acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 702 shares of the aerospace company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GD. MFA Wealth Advisors LLC grew its position in 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 acquiring an additional 58 shares in the last quarter. Hara Capital LLC purchased a new position in shares of General Dynamics in the 3rd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the 1st quarter valued at $29,000. American Capital Advisory LLC bought a new stake in General Dynamics in the second quarter worth $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in General Dynamics in the third quarter worth $30,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays raised their price objective 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. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was 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 owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by insiders.

General Dynamics Trading Down 1.5 %

NYSE:GD opened at $288.01 on Friday. The firm has a 50 day moving average of $302.55 and a 200 day moving average of $296.20. The stock has a market capitalization of $79.19 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.90 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 Co. has a 52 week low of $243.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results 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 business 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 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

General Dynamics Company 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.