Texas Permanent School Fund lowered its stake in General Dynamics Corporation (NYSE:GD) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,678 shares of the aerospace company’s stock after selling 3,472 shares during the period. Texas Permanent School Fund’s holdings in General Dynamics Corporation were worth $15,784,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ruggie Capital Group purchased a new position in General Dynamics Corporation during the first quarter valued at approximately $119,000. 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 valued at $137,000 after buying an additional 4 shares during the last quarter. 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 valued at $142,000 after buying an additional 284 shares during the last quarter. Central Bank & Trust Co. increased its position in General Dynamics Corporation by 33.9% in the first quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock valued at $164,000 after buying an additional 221 shares during the last quarter. Finally, First Command Bank increased its position in General Dynamics Corporation by 31.3% in the second quarter. First Command Bank now owns 952 shares of the aerospace company’s stock valued at $189,000 after buying an additional 227 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

General Dynamics Corporation (NYSE:GD) opened at 199.05 on Friday. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The firm has a market cap of $59.67 billion, a PE ratio of 19.67 and a beta of 0.71. The stock has a 50 day moving average price of $199.81 and a 200 day moving average price of $195.09.

General Dynamics Corporation (NYSE:GD) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. General Dynamics Corporation’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 EPS. Equities research analysts expect that General Dynamics Corporation will post $9.81 EPS for the current year.

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

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GD has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $220.00 price target on shares of General Dynamics Corporation in a report on Friday, July 7th. BidaskClub downgraded General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Tuesday, June 27th. UBS AG reiterated a “buy” rating and issued a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 price target on shares of General Dynamics Corporation in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the transaction, the vice president now directly owns 107,857 shares of the company’s stock, valued at approximately $21,719,164.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.70% of the company’s stock.

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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