OneAscent Financial Services LLC Buys New Position in General Dynamics Co. (NYSE:GD)

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

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of General Dynamics by 59.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company's stock worth $670,000 after purchasing an additional 883 shares during the period. Edgestream Partners L.P. raised its stake in shares of General Dynamics by 116.2% during the 1st quarter. Edgestream Partners L.P. now owns 2,662 shares of the aerospace company's stock worth $752,000 after purchasing an additional 1,431 shares during the period. Clearbridge Investments LLC bought a new stake in shares of General Dynamics during the 1st quarter worth $493,000. UniSuper Management Pty Ltd raised its stake in shares of General Dynamics by 232.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,538 shares of the aerospace company's stock worth $1,847,000 after purchasing an additional 4,574 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of General Dynamics by 16.8% during the 1st quarter. Bessemer Group Inc. now owns 14,114 shares of the aerospace company's stock worth $3,989,000 after purchasing an additional 2,031 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD traded down $5.02 during midday trading on Tuesday, hitting $280.98. 1,772,211 shares of the company's stock were exchanged, compared to its average volume of 1,104,345. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market cap of $77.26 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.74 and a beta of 0.61. The business's fifty day moving average price is $301.71 and its two-hundred day moving average price is $296.28.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analysts' expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 EPS. 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 General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business's 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 completion of the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GD. TD Cowen upgraded General Dynamics to a "strong-buy" rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Sanford C. Bernstein lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $323.69.

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.