Burns J W & Co. Inc. NY bought a new stake in General Dynamics Corporation (NYSE:GD) during the second quarter, Holdings Channel reports. The institutional investor bought 1,020 shares of the aerospace company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group acquired a new stake in shares of General Dynamics Corporation during the first quarter worth about $119,000. Pinnacle Bank acquired a new stake in shares of General Dynamics Corporation during the first quarter worth about $126,000. Zions Bancorporation increased its stake 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 during the period. Finally, Global X Management Co. LLC increased its stake in shares of 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 worth $142,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.

Shares of General Dynamics Corporation (NYSE:GD) traded up 0.46% during trading on Friday, hitting $199.20. The company had a trading volume of 473,057 shares. The firm’s 50 day moving average is $199.91 and its 200-day moving average is $193.59. The stock has a market capitalization of $59.72 billion, a P/E ratio of 19.68 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 issued its quarterly earnings data 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. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same period in the prior year, the business posted $2.30 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.

The business also recently disclosed 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 1.69%. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.

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A number of analysts have recently issued reports on GD shares. BidaskClub downgraded General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Sanford C. Bernstein reiterated a “mkt perform” rating on shares of General Dynamics Corporation in a research report on Wednesday, May 10th. Cowen and Company reiterated a “buy” rating and set a $210.00 price target on shares of General Dynamics Corporation in a research report on Monday, July 17th. Barclays PLC reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, May 1st. Finally, Zacks Investment Research upgraded General Dynamics Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. General Dynamics Corporation currently has a consensus rating of “Buy” and an average price target of $206.05.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the sale, the vice president now directly owns 107,857 shares in the company, valued at $21,719,164.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the sale, the director now owns 7,336 shares in the company, valued at $1,437,929.36. The disclosure for this sale can be found here. Corporate 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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