Truvestments Capital LLC Has $62,000 Stock Position in General Dynamics Co. (NYSE:GD)

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

Other hedge funds have also bought and sold shares of the company. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $29,000. Finally, Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% in the first 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 currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.2 %

Shares of NYSE GD traded down $0.58 during trading on Friday, hitting $290.40. 1,079,838 shares of the company traded hands, compared to its average volume of 1,187,075. The business’s fifty day moving average is $292.65 and its 200 day moving average is $282.38. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The firm has a market capitalization of $79.80 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.66 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the prior year, the company posted $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities research analysts predict that General Dynamics Co. will post 14.51 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated 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 owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,636 shares of company stock worth $20,209,317. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GD shares. Barclays lifted their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley lifted their price target on shares of General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Susquehanna boosted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $311.33.

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.