Advisors Asset Management Inc. lowered its stake in General Dynamics Corporation (NYSE:GD) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,782 shares of the aerospace company’s stock after selling 4,063 shares during the quarter. Advisors Asset Management Inc.’s holdings in General Dynamics Corporation were worth $7,973,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in General Dynamics Corporation by 2,645.5% during the 1st quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock valued at $2,903,351,000 after acquiring an additional 14,944,453 shares in the last quarter. Janus Henderson Group PLC grew its stake in General Dynamics Corporation by 44,941.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock valued at $990,241,000 after acquiring an additional 4,987,595 shares in the last quarter. Vanguard Group Inc. grew its stake in General Dynamics Corporation by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock valued at $3,706,525,000 after acquiring an additional 894,177 shares in the last quarter. Janus Capital Management LLC grew its stake in General Dynamics Corporation by 22.1% during the 1st quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after acquiring an additional 749,793 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of General Dynamics Corporation by 4.5% in the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after buying an additional 725,896 shares in the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Dynamics Corporation (NYSE GD) traded down $1.45 during midday trading on Friday, hitting $197.77. The company had a trading volume of 762,499 shares, compared to its average volume of 1,128,725. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $59,050.76, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 2.37 and a beta of 0.73. General Dynamics Corporation has a twelve month low of $164.97 and a twelve month high of $214.81.
General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. General Dynamics Corporation’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. equities analysts anticipate that General Dynamics Corporation will post 9.81 EPS for the current year.
Several brokerages recently commented on GD. BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating on shares of General Dynamics Corporation in a research note on Friday, August 11th. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Morgan Stanley began coverage on General Dynamics Corporation in a research note on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price target for the company. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics Corporation in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $218.45.
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In other General Dynamics Corporation news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
General Dynamics Corporation 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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