Renaissance Group LLC reduced its stake in General Dynamics Corporation (NYSE:GD) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,350 shares of the aerospace company’s stock after selling 41 shares during the quarter. Renaissance Group LLC’s holdings in General Dynamics Corporation were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GD. Vanguard Group Inc. increased its holdings in shares of General Dynamics Corporation by 4.7% during the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after purchasing an additional 894,177 shares during the period. BlackRock Inc. increased its holdings in shares of General Dynamics Corporation by 2,645.5% during the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after purchasing an additional 14,944,453 shares during the period. Janus Capital Management LLC increased its holdings in shares of General Dynamics Corporation by 22.1% during the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after purchasing an additional 749,793 shares during the period. Geode Capital Management LLC increased its holdings in shares of General Dynamics Corporation by 5.1% during the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after purchasing an additional 141,305 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of General Dynamics Corporation by 8.3% during the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after purchasing an additional 214,825 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Corporation (NYSE:GD) opened at 198.27 on Friday. The company has a 50-day moving average of $198.99 and a 200-day moving average of $196.26. The company has a market capitalization of $59.44 billion, a PE ratio of 19.59 and a beta of 0.71. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90.

General Dynamics Corporation (NYSE:GD) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion for 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 quarter in the prior year, the firm posted $2.30 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post $9.80 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued 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 of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/16/general-dynamics-corporation-gd-shares-sold-by-renaissance-group-llc.html.

GD has been the topic of several recent research reports. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a report on Wednesday, July 12th. They set a “buy” rating and a $230.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a 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 issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $206.59.

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.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD).

Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

Receive News & Stock Ratings for General Dynamics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics Corporation and related stocks with our FREE daily email newsletter.