Cornerstone Advisors Inc. maintained its stake in shares of General Dynamics Corporation (NYSE:GD) during the second quarter, Holdings Channel reports. The fund owned 839 shares of the aerospace company’s stock at the end of the second quarter. Cornerstone Advisors Inc.’s holdings in General Dynamics Corporation were worth $166,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after buying an additional 278,394 shares in the last quarter. Korea Investment CORP raised its stake in shares of General Dynamics Corporation by 128.7% in the first quarter. Korea Investment CORP now owns 255,196 shares of the aerospace company’s stock worth $47,773,000 after buying an additional 143,590 shares in the last quarter. HCR Wealth Advisors raised its stake in shares of General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after buying an additional 39 shares in the last quarter. Nwam LLC raised its stake in shares of General Dynamics Corporation by 24.3% in the first quarter. Nwam LLC now owns 1,786 shares of the aerospace company’s stock worth $334,000 after buying an additional 349 shares in the last quarter. Finally, Davis R M Inc. raised its stake in shares of General Dynamics Corporation by 8.0% in the first quarter. Davis R M Inc. now owns 1,447 shares of the aerospace company’s stock worth $271,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 87.52% of the company’s stock.

Shares of General Dynamics Corporation (NYSE GD) traded up 0.17% during trading on Friday, reaching $198.62. 576,725 shares of the company’s stock traded hands. The company has a 50 day moving average price of $199.91 and a 200-day moving average price of $193.59. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The stock has a market cap of $59.54 billion, a P/E ratio of 19.62 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the firm posted $2.30 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.

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

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A number of analysts have recently commented on GD shares. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada raised their price objective on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Finally, Berenberg Bank assumed coverage on shares of General Dynamics Corporation in a report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $206.05.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 107,857 shares in the company, valued at approximately $21,719,164.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the company’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 completion of the sale, 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. Corporate insiders own 6.70% of the company’s stock.

About General Dynamics Corporation

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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