OneAscent Financial Services LLC Invests $703,000 in General Dynamics Co. (NYSE:GD)

OneAscent Financial Services LLC acquired a new position in General Dynamics Co. (NYSE:GD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,327 shares of the aerospace company’s stock, valued at approximately $703,000.

A number of other institutional investors and hedge funds have also modified their holdings of GD. MFA Wealth Advisors LLC increased its position in General Dynamics by 241.7% during 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 during the period. Hara Capital LLC bought a new position in General Dynamics during the third quarter worth $26,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the first quarter worth $29,000. American Capital Advisory LLC bought a new position in General Dynamics during the second quarter worth $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in General Dynamics during the third quarter worth $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 issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Barclays boosted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Seaport Res Ptn cut shares of 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 given 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 target price of $323.69.

General Dynamics Stock Down 0.7 %

Shares of NYSE:GD opened at $286.00 on Tuesday. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company’s 50-day moving average price is $302.14 and its two-hundred day moving average price is $296.33. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $78.64 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 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 the consensus estimate of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the firm’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 transaction, the director now 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 is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.