TRUE Private Wealth Advisors Takes $259,000 Position in General Dynamics Co. (NYSE:GD)

TRUE Private Wealth Advisors purchased a new stake in General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 998 shares of the aerospace company’s stock, valued at approximately $259,000.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in General Dynamics during the 4th quarter worth $607,393,000. Wellington Management Group LLP raised its stake in General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the period. Price T Rowe Associates Inc. MD raised its stake in General Dynamics by 484.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,749,729 shares of the aerospace company’s stock worth $399,306,000 after buying an additional 1,450,213 shares during the period. Moneta Group Investment Advisors LLC raised its stake in General Dynamics by 91,832.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,386,337 shares of the aerospace company’s stock worth $343,964,000 after buying an additional 1,384,829 shares during the period. Finally, International Assets Investment Management LLC raised its stake in General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after buying an additional 915,091 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup lifted their price target on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Barclays lifted their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research note on Monday, January 29th. Finally, StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $283.80.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.3 %

General Dynamics stock opened at $284.48 on Thursday. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $296.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The stock has a market capitalization of $78.05 billion, a P/E ratio of 23.67, a PEG ratio of 1.81 and a beta of 0.68. The stock has a 50-day simple moving average of $278.37 and a 200 day simple moving average of $258.85.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.58 EPS. Analysts expect that General Dynamics Co. will post 14.57 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.00%. General Dynamics’s dividend payout ratio (DPR) is 47.25%.

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.