Argent Trust Co lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,494 shares of the aerospace company’s stock after selling 273 shares during the period. Argent Trust Co’s holdings in General Dynamics Corporation were worth $693,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares in the last quarter. BlackRock Inc. raised its position in shares of General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares in the last quarter. Janus Capital Management LLC raised its position in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares in the last quarter. Geode Capital Management LLC raised its position in shares of General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of General Dynamics Corporation by 8.3% in 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 buying an additional 214,825 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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A number of equities research analysts recently issued reports on the company. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. Citigroup Inc. reiterated a “neutral” rating and issued a $210.00 price objective (up previously from $207.00) on shares of General Dynamics Corporation in a research report on Friday, August 11th. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Morgan Stanley assumed coverage on General Dynamics Corporation in a research report on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $206.59.

Shares of General Dynamics Corporation (NYSE:GD) opened at 205.41 on Friday. The stock has a market cap of $61.58 billion, a P/E ratio of 20.29 and a beta of 0.71. The firm’s 50-day moving average price is $199.30 and its 200-day moving average price is $196.51. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $206.51.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ 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 return on equity of 28.17% and a net margin of 9.63%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $2.30 earnings per share. Equities analysts predict that General Dynamics Corporation will post $9.80 EPS for the current year.

The firm 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 $0.84 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 annualized dividend and a dividend yield of 1.64%. General Dynamics Corporation’s payout ratio is presently 34.57%.

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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