Nuveen Asset Management LLC decreased its stake in shares of General Dynamics Corporation (NYSE:GD) by 9.4% during the first quarter, Holdings Channel reports. The institutional investor owned 157,367 shares of the aerospace company’s stock after selling 16,367 shares during the period. Nuveen Asset Management LLC’s holdings in General Dynamics Corporation were worth $29,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GD. Verde Servicos Internacionais S.A. raised its position in shares of General Dynamics Corporation by 35.2% in the first quarter. Verde Servicos Internacionais S.A. now owns 41,735 shares of the aerospace company’s stock worth $7,812,000 after buying an additional 10,857 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of General Dynamics Corporation by 9.8% in the first quarter. Capstone Asset Management Co. now owns 14,056 shares of the aerospace company’s stock worth $2,631,000 after buying an additional 1,253 shares in the last quarter. Gradient Investments LLC raised its position in shares of General Dynamics Corporation by 8,464.9% in the first quarter. Gradient Investments LLC now owns 3,169 shares of the aerospace company’s stock worth $593,000 after buying an additional 3,132 shares in the last quarter. Bank of Montreal Can raised its position in shares of General Dynamics Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 1,529,129 shares of the aerospace company’s stock worth $286,253,000 after buying an additional 27,988 shares in the last quarter. Finally, Pennsylvania Trust Co raised its position in shares of General Dynamics Corporation by 14.0% in the first quarter. Pennsylvania Trust Co now owns 2,640 shares of the aerospace company’s stock worth $494,000 after buying an additional 325 shares in the last quarter. 87.52% of the stock is currently owned by institutional investors.

General Dynamics Corporation (NYSE:GD) traded up 1.2652% during mid-day trading on Wednesday, reaching $201.3153. The company had a trading volume of 559,469 shares. The company has a market capitalization of $60.35 billion, a price-to-earnings ratio of 19.8889 and a beta of 0.71. General Dynamics Corporation has a 12 month low of $147.80 and a 12 month high of $205.90. The firm’s 50 day moving average price is $200.36 and its 200-day moving average price is $192.94.

General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 EPS. Equities research analysts anticipate that General Dynamics Corporation will post $9.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.

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A number of research analysts have recently weighed in on GD shares. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price objective on shares of General Dynamics Corporation in a report on Tuesday, April 18th. UBS AG reissued a “buy” rating and issued a $225.00 price objective (up from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $220.00 price objective on shares of General Dynamics Corporation in a report on Friday, June 2nd. ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $206.05.

In related news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the transaction, the vice president now owns 107,857 shares in the company, valued at approximately $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $196.01, for a total value of $500,021.51. Following the transaction, the director now owns 7,336 shares in the company, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

General Dynamics Corporation Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

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