TrueMark Investments LLC Cuts Stock Position in General Dynamics Corporation $GD

TrueMark Investments LLC reduced its position in General Dynamics Corporation (NYSE:GD) by 55.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,785 shares of the aerospace company’s stock after selling 8,298 shares during the quarter. TrueMark Investments LLC’s holdings in General Dynamics were worth $2,314,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Gold Investment Management Ltd. lifted its holdings in shares of General Dynamics by 73.5% during the 3rd quarter. Gold Investment Management Ltd. now owns 10,700 shares of the aerospace company’s stock worth $3,649,000 after acquiring an additional 4,532 shares during the period. Truist Financial Corp increased its position in General Dynamics by 0.5% during the second quarter. Truist Financial Corp now owns 286,456 shares of the aerospace company’s stock worth $83,548,000 after purchasing an additional 1,370 shares during the last quarter. Pure Financial Advisors LLC raised its stake in General Dynamics by 52.4% during the second quarter. Pure Financial Advisors LLC now owns 9,181 shares of the aerospace company’s stock worth $2,678,000 after purchasing an additional 3,156 shares during the period. Davis Capital Management purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $1,007,000. Finally, Los Angeles Capital Management LLC raised its position in shares of General Dynamics by 20.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 299,137 shares of the aerospace company’s stock worth $87,246,000 after buying an additional 51,655 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the transaction, the vice president owned 36,644 shares of the company’s stock, valued at $12,272,808.48. This trade represents a 35.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by insiders.

General Dynamics Stock Performance

General Dynamics stock opened at $363.60 on Friday. The stock has a market cap of $98.22 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The stock has a 50 day moving average of $346.14 and a 200-day moving average of $332.80. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $369.70.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $3.35 EPS. On average, analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, January 16th. General Dynamics’s payout ratio is currently 38.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GD shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price target on shares of General Dynamics in a research report on Wednesday, October 8th. Susquehanna reiterated a “positive” rating and set a $420.00 target price on shares of General Dynamics in a report on Thursday, January 15th. Wall Street Zen lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $380.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, BNP Paribas Exane raised their target price on shares of General Dynamics from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.70.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.