Kingsview Wealth Management LLC Acquires 1,004 Shares of General Dynamics Co. (NYSE:GD)

Kingsview Wealth Management LLC grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 12.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,334 shares of the aerospace company’s stock after purchasing an additional 1,004 shares during the period. Kingsview Wealth Management LLC’s holdings in General Dynamics were worth $2,821,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GD. MFA Wealth Advisors LLC increased its position 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 valued at $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC bought a new position in General Dynamics in the third quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics during the 1st quarter worth approximately $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics during the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $30,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GD shares. Sanford C. Bernstein lowered 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. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup raised their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna raised their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Stock Performance

NYSE GD opened at $281.81 on Monday. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The firm has a 50-day moving average price of $300.44 and a two-hundred day moving average price of $296.02. The company has a market capitalization of $77.49 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.69 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 (NYSE:GD) last issued 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 company 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 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on 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 in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.