Municipal Employees Retirement System of Michigan cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 13.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,410 shares of the aerospace company’s stock after selling 2,040 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in General Dynamics Corporation were worth $2,757,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GD. Vanguard Group Inc. grew its stake in shares of General Dynamics Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock worth $3,996,966,000 after purchasing an additional 376,688 shares during the last quarter. Capital Research Global Investors grew its stake in shares of General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after purchasing an additional 725,896 shares during the last quarter. BlackRock Inc. grew its stake in shares of General Dynamics Corporation by 5.3% in the second quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock worth $3,236,720,000 after purchasing an additional 829,487 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after purchasing an additional 4,987,595 shares during the last quarter. Finally, Janus Capital Management LLC grew its stake in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after purchasing an additional 749,793 shares during the last quarter. Institutional investors own 85.79% of the company’s stock.

General Dynamics Corporation (GD) traded up $0.36 on Tuesday, reaching $200.13. 912,100 shares of the company traded hands, compared to its average volume of 1,153,220. The company has a market cap of $59,647.91, a P/E ratio of 19.84, a PEG ratio of 2.39 and a beta of 0.73. General Dynamics Corporation has a 52 week low of $164.97 and a 52 week high of $214.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics Corporation had a net margin of 9.94% and a return on equity of 27.98%. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same period last year, the firm earned $2.36 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. equities analysts anticipate that General Dynamics Corporation will post 9.81 earnings per share for the current year.

In other General Dynamics Corporation news, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.

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GD has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG reissued a “hold” rating and set a $210.00 price objective (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, October 2nd. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $217.19.

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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