Truvestments Capital LLC Takes Position in General Dynamics Co. (NYSE:GD)

Truvestments Capital LLC purchased a new stake in General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 245 shares of the aerospace company’s stock, valued at approximately $74,000.

Several other hedge funds also recently made changes to their positions in the stock. Coston McIsaac & Partners boosted its stake in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares during the period. Global X Japan Co. Ltd. boosted its stake in General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust boosted its stake in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after buying an additional 34 shares during the period. Trueblood Wealth Management LLC boosted its stake in General Dynamics by 1.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares during the period. Finally, Modera Wealth Management LLC boosted its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.2 %

Shares of NYSE:GD opened at $282.01 on Wednesday. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The company has a market cap of $77.54 billion, a PE ratio of 21.48, a P/E/G ratio of 1.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock’s 50-day moving average is $299.47 and its 200 day moving average is $295.82.

General Dynamics (NYSE:GD) last announced 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Wall sold 1,320 shares of the company’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 transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna lifted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average 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.