Advisors Asset Management Inc. reduced its holdings in General Dynamics Corporation (NYSE:GD) by 9.5% during the 3rd quarter, according to the company in its most recent Form 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 period. Advisors Asset Management Inc.’s holdings in General Dynamics were worth $7,973,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of GD. BlackRock Inc. increased its position in shares of General Dynamics by 2,645.5% during the first 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 during the last quarter. Janus Henderson Group PLC grew its holdings in shares of General Dynamics by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock valued at $990,241,000 after purchasing an additional 4,987,595 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock valued at $3,706,525,000 after purchasing an additional 894,177 shares in the last quarter. Janus Capital Management LLC grew its holdings in shares of General Dynamics by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after purchasing an additional 749,793 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of General Dynamics by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after purchasing an additional 725,896 shares in the last quarter. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GD. BidaskClub upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group reiterated a “buy” rating on shares of General Dynamics in a report on Friday, August 11th. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Morgan Stanley initiated coverage on shares of General Dynamics in a research report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective for the company. Finally, Deutsche Bank restated a “hold” rating and set a $210.00 price objective (up previously from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $218.45.
In other news, 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 transaction of $15,903,624.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
Shares of General Dynamics Corporation (NYSE GD) traded down $0.95 during trading on Monday, reaching $201.69. 1,705,994 shares of the company’s stock were exchanged, compared to its average volume of 1,150,014. The stock has a market cap of $60,220.00, a P/E ratio of 20.12, a P/E/G ratio of 2.43 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 52 week low of $168.00 and a 52 week high of $214.81.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. General Dynamics’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 EPS. equities analysts anticipate that General Dynamics Corporation will post 9.81 EPS for the current year.
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About General Dynamics
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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