ING Groep NV cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 14,517 shares of the aerospace company’s stock after selling 15 shares during the period. ING Groep NV’s holdings in General Dynamics Corporation were worth $2,876,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in shares of General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock valued at $108,300,000 after buying an additional 278,394 shares in the last quarter. Korea Investment CORP boosted its position in shares of General Dynamics Corporation by 128.7% in the first quarter. Korea Investment CORP now owns 255,196 shares of the aerospace company’s stock valued at $47,773,000 after buying an additional 143,590 shares in the last quarter. HCR Wealth Advisors boosted its position in shares of General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock valued at $230,000 after buying an additional 39 shares in the last quarter. Nwam LLC boosted its position in shares of General Dynamics Corporation by 24.3% in the first quarter. Nwam LLC now owns 1,786 shares of the aerospace company’s stock valued at $334,000 after buying an additional 349 shares in the last quarter. Finally, Davis R M Inc. boosted its position in shares of General Dynamics Corporation by 8.0% in the first quarter. Davis R M Inc. now owns 1,447 shares of the aerospace company’s stock valued at $271,000 after buying an additional 107 shares in the last quarter. 87.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Dynamics Corporation (NYSE GD) traded up 0.11% during mid-day trading on Friday, reaching $198.50. 558,281 shares of the company’s stock were exchanged. The firm has a market cap of $59.51 billion, a P/E ratio of 19.61 and a beta of 0.71. The company has a 50 day moving average price of $199.91 and a 200 day moving average price of $193.59. 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 released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter last year, the firm earned $2.30 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts forecast that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal 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 issued 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 currently 34.57%.

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Several research analysts have recently commented on the stock. UBS AG reaffirmed a “buy” rating and set a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of General Dynamics Corporation in a report on Tuesday, April 18th. BidaskClub cut shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, June 2nd. 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 a consensus rating of “Buy” and an average target price of $206.05.

In other General Dynamics Corporation news, Director Lester L. Lyles sold 2,551 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the sale, the director now owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction on Tuesday, May 30th. The shares were 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 of the company’s stock, valued at approximately $21,719,164.09. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

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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