1ST Source Bank increased its stake in General Dynamics Corporation (NYSE:GD) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,516 shares of the aerospace company’s stock after buying an additional 205 shares during the period. 1ST Source Bank’s holdings in General Dynamics Corporation were worth $4,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the period. Zions Bancorporation raised its position in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the period. Norway Savings Bank raised its position in General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock worth $201,000 after buying an additional 5 shares during the period. Savant Capital LLC raised its position in General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock worth $340,000 after buying an additional 7 shares during the period. Finally, Guardian Life Insurance Co. of America raised its position in General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock worth $207,000 after buying an additional 8 shares during the period. 87.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of General Dynamics Corporation (NYSE:GD) opened at 197.89 on Friday. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The stock has a 50 day moving average of $199.82 and a 200 day moving average of $193.74. The stock has a market cap of $59.33 billion, a P/E ratio of 19.55 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last posted its 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 business had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 EPS. On average, analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.57%.

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A number of research analysts have weighed in on GD shares. Zacks Investment Research raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research note on Tuesday, June 27th. UBS AG reaffirmed a “buy” rating and issued a $225.00 price objective (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $220.00 price objective on shares of General Dynamics Corporation in a research note on Friday, June 2nd. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of General Dynamics Corporation in a research note on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction 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. 6.70% of the stock is currently owned by corporate insiders.

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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