Sprucegrove Investment Management Ltd. trimmed its position in General Dynamics Corporation (NYSE:GD) by 21.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,955 shares of the aerospace company’s stock after selling 8,000 shares during the period. Sprucegrove Investment Management Ltd.’s holdings in General Dynamics Corporation were worth $5,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in General Dynamics Corporation by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after buying an additional 376,688 shares during the last quarter. BlackRock Inc. boosted its position in General Dynamics Corporation by 5.3% in the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after buying an additional 829,487 shares during the last quarter. Janus Capital Management LLC boosted its position in General Dynamics Corporation by 22.1% in the 1st quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after buying an additional 749,793 shares during the last quarter. Franklin Resources Inc. boosted its position in General Dynamics Corporation by 1.9% in the 2nd quarter. Franklin Resources Inc. now owns 3,786,244 shares of the aerospace company’s stock valued at $750,055,000 after buying an additional 71,287 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in General Dynamics Corporation by 5.1% in the 1st quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock valued at $546,040,000 after buying an additional 141,305 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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Shares of General Dynamics Corporation (NYSE:GD) opened at 212.60 on Friday. The firm has a market cap of $63.74 billion, a P/E ratio of 21.00 and a beta of 0.72. The company’s 50-day moving average price is $202.45 and its 200 day moving average price is $197.96. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $214.11.

General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The business 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 quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.30 earnings per share. On average, equities analysts anticipate that General Dynamics Corporation will post $9.80 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.58%. General Dynamics Corporation’s dividend payout ratio (DPR) is currently 34.57%.

A number of brokerages have commented on GD. BidaskClub lowered General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Morgan Stanley began coverage on General Dynamics Corporation in a research report on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price target on the stock. ValuEngine lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, UBS AG restated a “buy” rating and issued a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. General Dynamics Corporation presently has an average rating of “Buy” and an average target price of $209.12.

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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