General Dynamics Corporation $GD Shares Sold by TrueMark Investments LLC

TrueMark Investments LLC trimmed its stake in shares of General Dynamics Corporation (NYSE:GD) by 55.0% during the third quarter, Holdings Channel reports. The firm owned 6,785 shares of the aerospace company’s stock after selling 8,298 shares during the period. TrueMark Investments LLC’s holdings in General Dynamics were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in General Dynamics by 3,306.5% in the third quarter. Pacer Advisors Inc. now owns 871,052 shares of the aerospace company’s stock valued at $297,029,000 after buying an additional 845,482 shares during the last quarter. Ameriprise Financial Inc. lifted its position in General Dynamics by 25.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock valued at $1,003,444,000 after purchasing an additional 691,340 shares during the last quarter. Prudential Financial Inc. boosted its stake in General Dynamics by 142.5% during the 2nd quarter. Prudential Financial Inc. now owns 438,311 shares of the aerospace company’s stock valued at $127,838,000 after purchasing an additional 257,534 shares during the period. AQR Capital Management LLC grew its position in General Dynamics by 43.0% in the 2nd quarter. AQR Capital Management LLC now owns 762,168 shares of the aerospace company’s stock worth $222,294,000 after purchasing an additional 229,352 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of General Dynamics in the second quarter valued at approximately $66,599,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.6%

NYSE GD opened at $363.60 on Friday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $369.70. The company has a market capitalization of $98.22 billion, a P/E ratio of 23.56, a PEG ratio of 1.81 and a beta of 0.41. The company’s 50 day simple moving average is $346.14 and its 200 day simple moving average is $332.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87.

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

General Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. Bank of America boosted their price objective on General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Robert W. Baird set a $390.00 price target on General Dynamics in a research note on Monday, October 27th. UBS Group lifted their price objective on shares of General Dynamics from $381.00 to $388.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Susquehanna restated a “positive” rating and set a $420.00 price target on shares of General Dynamics in a research report on Thursday, January 15th. Finally, Wall Street Zen lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $366.70.

Insider Buying and Selling at General Dynamics

In related news, VP David Paddock sold 20,360 shares of General Dynamics stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total value of $6,818,971.20. Following the transaction, the vice president owned 36,644 shares of the company’s stock, valued at approximately $12,272,808.48. This trade represents a 35.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

General Dynamics 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.