Glenmede Trust Co. NA decreased its position in shares of General Dynamics Co. (NYSE:GD) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,152 shares of the aerospace company’s stock after selling 10,184 shares during the period. Glenmede Trust Co. NA’s holdings in General Dynamics were worth $8,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newport Trust Co lifted its stake in General Dynamics by 0.3% in the 2nd quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock valued at $3,927,294,000 after purchasing an additional 66,593 shares during the last quarter. BlackRock Inc. lifted its stake in General Dynamics by 1.1% in the 2nd quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock valued at $3,173,507,000 after purchasing an additional 191,353 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in General Dynamics by 29.0% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock valued at $418,173,000 after purchasing an additional 504,326 shares during the last quarter. Aristotle Capital Management LLC lifted its stake in General Dynamics by 3.8% in the 1st quarter. Aristotle Capital Management LLC now owns 1,577,319 shares of the aerospace company’s stock valued at $348,430,000 after purchasing an additional 57,762 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in General Dynamics in the 2nd quarter valued at approximately $258,844,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

In related news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction on Monday, July 16th. The shares were sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the completion of the transaction, the insider now owns 118,555 shares of the company’s stock, valued at $22,761,374.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the transaction, the insider now directly owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

GD has been the subject of several research reports. Drexel Hamilton reissued a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research note on Thursday, August 16th. Bank of America set a $275.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research note on Tuesday, July 31st. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. UBS Group began coverage on shares of General Dynamics in a research note on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $239.39.

GD stock opened at $204.66 on Monday. The firm has a market cap of $60.79 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.64 and a beta of 0.79. General Dynamics Co. has a 52-week low of $184.21 and a 52-week high of $230.00. The company has a quick ratio of 0.84, a current ratio of 1.20 and a debt-to-equity ratio of 0.95.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The business had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.09 billion. During the same quarter last year, the firm earned $2.45 earnings per share. General Dynamics’s quarterly revenue was up 19.7% on a year-over-year basis. research analysts predict that General Dynamics Co. will post 11.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio is presently 37.39%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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