Wellington Shields Capital Management LLC decreased its stake in General Dynamics Corporation (NYSE:GD) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 9,720 shares of the aerospace company’s stock after selling 520 shares during the period. Wellington Shields Capital Management LLC’s holdings in General Dynamics Corporation were worth $1,926,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in 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 valued at $2,903,351,000 after buying an additional 14,944,453 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 valued at $3,706,525,000 after buying an additional 894,177 shares in the last quarter. Janus Capital Management LLC raised its stake in 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 valued at $776,563,000 after buying an additional 749,793 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in General Dynamics Corporation by 59.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,809,357 shares of the aerospace company’s stock valued at $338,712,000 after buying an additional 675,324 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in General Dynamics Corporation by 1,130.7% in the first quarter. ProShare Advisors LLC now owns 336,112 shares of the aerospace company’s stock valued at $62,920,000 after buying an additional 308,802 shares in the last quarter. 87.52% of the stock is owned by institutional investors and hedge funds.

Shares of General Dynamics Corporation (NYSE GD) traded down 0.8474% during mid-day trading on Thursday, hitting $199.2968. The stock had a trading volume of 530,415 shares. General Dynamics Corporation has a 12-month low of $148.76 and a 12-month high of $205.90. The stock has a market capitalization of $59.75 billion, a price-to-earnings ratio of 19.6895 and a beta of 0.71. The stock’s 50-day moving average price is $200.07 and its 200-day moving average price is $193.56.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings data 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. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Corporation will post $9.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.57%.

WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.watchlistnews.com/general-dynamics-corporation-nysegd-shares-sold-by-wellington-shields-capital-management-llc/1471195.html.

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

In related news, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 7,336 shares in the company, valued at approximately $1,437,929.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher Marzilli sold 43,890 shares of the company’s 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 completion of the sale, the vice president now 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 owned by corporate insiders.

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.

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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.