General Dynamics Co. (NYSE:GD) Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc grew its stake in General Dynamics Co. (NYSE:GD) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,392 shares of the aerospace company’s stock after buying an additional 271 shares during the period. Prospera Financial Services Inc’s holdings in General Dynamics were worth $3,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 58 shares during the last quarter. Hara Capital LLC purchased a new position in shares of General Dynamics during the third quarter worth $26,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the first quarter worth $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the second quarter worth $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the third quarter valued at $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, 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 accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

GD has been the subject of a number of recent analyst reports. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup lifted 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Barclays lifted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Price Performance

General Dynamics stock opened at $279.98 on Thursday. The company’s 50 day simple moving average is $301.32 and its 200-day simple moving average is $296.16. The company has a market capitalization of $76.99 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last released 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). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

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.