Barometer Capital Management Inc. reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 24.7% during the second quarter, Holdings Channel reports. The firm owned 100,400 shares of the aerospace company’s stock after selling 32,900 shares during the period. General Dynamics Corporation makes up approximately 2.0% of Barometer Capital Management Inc.’s portfolio, making the stock its 12th largest position. Barometer Capital Management Inc.’s holdings in General Dynamics Corporation were worth $19,889,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Quadrant Capital Group LLC increased its position 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 valued at $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group purchased a new position in General Dynamics Corporation during the first quarter worth about $119,000. Pinnacle Bank purchased a new position in General Dynamics Corporation during the first quarter worth about $126,000. Zions Bancorporation increased its position in 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 last quarter. Finally, Global X Management Co. LLC increased its position in 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 last quarter. 86.77% of the stock is currently owned by institutional investors.

Shares of General Dynamics Corporation (NYSE GD) traded up 0.043% during midday trading on Friday, hitting $199.415. The company had a trading volume of 466,015 shares. The firm has a market capitalization of $59.78 billion, a PE ratio of 19.701 and a beta of 0.71. The company has a 50-day moving average of $200.54 and a 200 day moving average of $192.80. General Dynamics Corporation has a 12 month low of $146.82 and a 12 month high of $205.90.

General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the previous year, the firm posted $2.30 EPS. General Dynamics Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 annualized dividend and a yield of 1.69%. General Dynamics Corporation’s payout ratio is 34.57%.

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A number of equities analysts have recently issued reports on the company. Cowen and Company reissued an “outperform” rating and set a $207.00 price target on shares of General Dynamics Corporation in a research report on Monday, April 17th. Zacks Investment Research raised General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a research report on Tuesday, June 27th. BidaskClub downgraded General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Royal Bank Of Canada increased their price target on General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $220.00 price target (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $207.56.

In other news, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the transaction, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher Marzilli sold 43,890 shares of the company’s 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 transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

General Dynamics Corporation Company 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 Corporation (NYSE:GD)

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