True Wealth Design LLC Purchases New Shares in General Dynamics Co. (NYSE:GD)

True Wealth Design LLC acquired a new position in General Dynamics Co. (NYSE:GD) in the 3rd quarter, Holdings Channel reports. The firm acquired 111 shares of the aerospace company’s stock, valued at approximately $34,000.

A number of other large investors have also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC raised its stake in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. raised its position in shares of General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares during the period. Lummis Asset Management LP lifted its stake in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock valued at $177,881,000 after purchasing an additional 5,069 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on GD shares. Barclays raised their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Citigroup upped their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The shares were 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 trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $284.01 on Monday. The firm’s 50 day moving average price is $298.17 and its 200-day moving average price is $295.58. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $78.09 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a twelve month low of $245.01 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. Equities research analysts expect that General Dynamics Co. will post 13.98 EPS for the current year.

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.