Earnest Partners LLC trimmed its stake in General Dynamics Corporation (NYSE:GD) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,377 shares of the aerospace company’s stock after selling 8,600 shares during the quarter. Earnest Partners LLC owned approximately 0.06% of General Dynamics worth $36,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Janus Henderson Group PLC increased its stake in General Dynamics by 6.1% in the third quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after purchasing an additional 304,175 shares during the last quarter. Vident Investment Advisory LLC increased its stake in General Dynamics by 135.6% in the third quarter. Vident Investment Advisory LLC now owns 3,716 shares of the aerospace company’s stock valued at $764,000 after purchasing an additional 2,139 shares during the last quarter. Capital International Inc. CA acquired a new position in General Dynamics in the third quarter valued at $699,000. Empire Life Investments Inc. increased its stake in General Dynamics by 10.5% in the third quarter. Empire Life Investments Inc. now owns 104,247 shares of the aerospace company’s stock valued at $21,431,000 after purchasing an additional 9,922 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in General Dynamics by 82.6% in the third quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock valued at $143,394,000 after purchasing an additional 315,512 shares during the last quarter. 86.87% of the stock is owned by institutional investors.

Several equities analysts recently commented on GD shares. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a research note on Monday, October 2nd. Deutsche Bank restated a “hold” rating and set a $210.00 price target (up from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. Citigroup restated a “neutral” rating and set a $215.00 price target (up from $210.00) on shares of General Dynamics in a research note on Monday, October 9th. Finally, Cowen restated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $218.45.

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

Shares of General Dynamics Corporation (NYSE:GD) opened at $201.07 on Monday. The company has a market capitalization of $60,036.07, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.72. 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 has a 12 month low of $168.00 and a 12 month high of $214.81.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s payout ratio is 33.50%.

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General Dynamics 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 (NYSE:GD)

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