Truvestments Capital LLC Lowers Holdings in General Dynamics Co. (NYSE:GD)

Truvestments Capital LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 221 shares of the aerospace company’s stock after selling 35 shares during the quarter. Truvestments Capital LLC’s holdings in General Dynamics were worth $62,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics in the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the 1st quarter valued at about $29,000. Finally, Legend Financial Advisors Inc. lifted its stake in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,636 shares of company stock valued at $20,209,317. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.2 %

General Dynamics stock traded down $0.58 during mid-day trading on Friday, reaching $290.40. 1,079,838 shares of the company’s stock were exchanged, compared to its average volume of 1,187,075. The company has a market cap of $79.80 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.66 and a beta of 0.60. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $292.65 and a 200-day moving average of $282.38.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.70 earnings per share. Sell-side analysts expect that General Dynamics Co. will post 14.51 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday. Morgan Stanley increased their price objective on shares of General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $324.00 to $320.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company upped their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $311.33.

General Dynamics 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.