Primoris Wealth Advisors LLC Sells 750 Shares of General Dynamics Co. (NYSE:GD)

Primoris Wealth Advisors LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 24.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,297 shares of the aerospace company’s stock after selling 750 shares during the period. Primoris Wealth Advisors LLC’s holdings in General Dynamics were worth $694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MFA Wealth Advisors LLC raised 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 in the last quarter. Hara Capital LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. American Capital Advisory LLC acquired a new position in General Dynamics in the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the first quarter valued at approximately $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

GD traded up $3.47 on Friday, reaching $309.47. The stock had a trading volume of 855,115 shares, compared to its average volume of 1,109,699. The firm has a 50-day moving average of $301.62 and a 200-day moving average of $295.58. General Dynamics Co. has a fifty-two week low of $238.31 and a fifty-two week high of $313.11. The company has a market capitalization of $85.09 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business 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 earnings per share. The firm’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 EPS for the current year.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GD has been the subject of several recent research reports. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft cut 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.