Principal Street Partners LLC Buys 795 Shares of General Dynamics Co. (NYSE:GD)

Principal Street Partners LLC raised its position in General Dynamics Co. (NYSE:GD) by 97.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,608 shares of the aerospace company’s stock after buying an additional 795 shares during the quarter. Principal Street Partners LLC’s holdings in General Dynamics were worth $467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MFA Wealth Advisors LLC increased 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 purchasing an additional 58 shares during the period. Hara Capital LLC bought a new position in shares of General Dynamics in the 3rd quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new stake 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 second quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in General Dynamics in the third quarter valued at approximately $30,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

General Dynamics Price Performance

Shares of GD stock traded down $1.14 during trading hours on Tuesday, reaching $280.21. The company’s stock had a trading volume of 39,025 shares, compared to its average volume of 1,109,446. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The firm’s 50 day simple moving average is $299.91 and its 200-day simple moving average is $295.92. 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 company has a market capitalization of $77.05 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its 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). The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. Sell-side analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Susquehanna upped their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.69.

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.