Legacy Capital Partners Inc. increased its stake in shares of General Dynamics Corporation (NYSE:GD) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,659 shares of the aerospace company’s stock after buying an additional 1,130 shares during the period. General Dynamics Corporation accounts for 2.1% of Legacy Capital Partners Inc.’s holdings, making the stock its 12th largest position. Legacy Capital Partners Inc.’s holdings in General Dynamics Corporation were worth $3,894,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GD. Zions Bancorporation boosted its stake in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after buying an additional 4 shares during the period. Norway Savings Bank boosted its stake in General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock valued at $201,000 after buying an additional 5 shares during the period. Savant Capital LLC boosted its stake in General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after buying an additional 7 shares during the period. Guardian Life Insurance Co. of America boosted its stake in General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after buying an additional 8 shares during the period. Finally, Aviance Capital Management LLC boosted its stake in General Dynamics Corporation by 0.3% in the first quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock valued at $692,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Shares of General Dynamics Corporation (GD) opened at 201.22 on Thursday. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The firm has a 50-day moving average of $199.81 and a 200-day moving average of $195.09. The company has a market cap of $60.32 billion, a price-to-earnings ratio of 19.88 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. General Dynamics Corporation’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.30 EPS. Equities research analysts forecast that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.

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

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Several research firms have recently weighed in on GD. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. UBS AG reaffirmed a “buy” rating and set a $225.00 target price (up previously from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $210.00 target price on shares of General Dynamics Corporation in a report on Monday, July 17th. 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 research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. General Dynamics Corporation has a consensus rating of “Buy” and a consensus target price of $206.59.

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.

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

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