Balboa Wealth Partners Buys New Stake in General Dynamics Co. (NYSE:GD)

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

Other institutional investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of General Dynamics in the first quarter worth about $361,000. First Foundation Advisors boosted its position in General Dynamics by 28.1% during the first quarter. First Foundation Advisors now owns 1,376 shares of the aerospace company’s stock worth $389,000 after purchasing an additional 302 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of General Dynamics by 2.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,778 shares of the aerospace company’s stock valued at $502,000 after buying an additional 44 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of General Dynamics by 405.7% during the 1st quarter. Intech Investment Management LLC now owns 12,172 shares of the aerospace company’s stock worth $3,438,000 after buying an additional 9,765 shares during the period. Finally, TIAA Trust National Association grew its stake in General Dynamics by 2.8% in the 1st quarter. TIAA Trust National Association now owns 7,814 shares of the aerospace company’s stock valued at $2,207,000 after acquiring an additional 211 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $288.01 on Friday. 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 company has a 50-day moving average price of $302.55 and a 200 day moving average price of $296.20. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The stock has a market cap of $79.19 billion, a P/E ratio of 21.93, a PEG ratio of 1.90 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. 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 prior year, the business earned $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 13.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective 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 raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s 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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.52% of the company’s stock.

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.