Shell Asset Management Co. decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 30,787 shares of the aerospace company’s stock after selling 7 shares during the period. Shell Asset Management Co.’s holdings in General Dynamics Corporation were worth $6,099,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GD. Quadrant Capital Group LLC raised its stake in shares of 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. Ruggie Capital Group acquired a new stake in shares of General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank acquired a new stake in shares of General Dynamics Corporation during the first quarter worth approximately $126,000. Zions Bancorporation raised its stake in shares of 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. Finally, Global X Management Co. LLC raised its stake in shares of General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.

General Dynamics Corporation (GD) opened at 197.89 on Friday. The company has a market cap of $59.33 billion, a price-to-earnings ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The company’s 50-day moving average is $199.82 and its 200 day moving average is $193.74.

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 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 company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same period last year, the company earned $2.30 EPS. General Dynamics Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities analysts forecast that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal year.

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

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A number of brokerages have commented on GD. UBS AG restated a “buy” rating and set a $225.00 price target (up previously from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. BidaskClub upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a research note on Friday. Citigroup Inc. upped their target price on shares of General Dynamics Corporation from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Morgan Stanley assumed coverage on shares of General Dynamics Corporation in a research note on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $206.59.

In related news, VP Christopher Marzilli sold 43,890 shares of General Dynamics Corporation 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 completion of the sale, the vice president now directly owns 107,857 shares in the company, valued at approximately $21,719,164.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lester L. Lyles sold 2,551 shares of General Dynamics Corporation stock in a transaction dated 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 of the company’s stock, valued at $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company 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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