Summit Asset Management LLC maintained its position in shares of General Dynamics Corporation (NYSE:GD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,288 shares of the aerospace company’s stock at the end of the 2nd quarter. Summit Asset Management LLC’s holdings in General Dynamics Corporation were worth $255,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Zions Bancorporation raised its position in shares of 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 in the last quarter. Norway Savings Bank raised its position in shares of General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock worth $201,000 after buying an additional 5 shares in the last quarter. Savant Capital LLC raised its position in shares of General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock worth $340,000 after buying an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock worth $207,000 after buying an additional 8 shares in the last quarter. Finally, Aviance Capital Management LLC raised its position in shares of General Dynamics Corporation by 0.3% in the first quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock worth $692,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

General Dynamics Corporation (GD) opened at 199.00 on Wednesday. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90. The company has a market capitalization of $59.66 billion, a PE ratio of 19.66 and a beta of 0.71. The stock’s 50 day moving average price is $199.14 and its 200-day moving average price is $196.12.

General Dynamics Corporation (NYSE:GD) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. On average, equities research analysts predict that General Dynamics Corporation will post $9.80 earnings per share for the current fiscal year.

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

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A number of equities research analysts recently issued reports on GD shares. Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Berenberg Bank started coverage on General Dynamics Corporation in a research report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of General Dynamics Corporation in a research report on Friday, July 7th. Two investment analysts have 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. General Dynamics Corporation presently has an average rating of “Buy” and an average price target of $206.59.

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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