Pictet Asset Management Ltd. decreased its position in General Dynamics Corporation (NYSE:GD) by 3.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 132,629 shares of the aerospace company’s stock after selling 5,100 shares during the period. Pictet Asset Management Ltd.’s holdings in General Dynamics Corporation were worth $26,957,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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 worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Vanguard Group Inc. raised its position in shares of 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 worth $3,706,525,000 after buying an additional 894,177 shares in the last quarter. Janus Capital Management LLC raised its position in shares of 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 worth $776,563,000 after buying an additional 749,793 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of 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 worth $338,712,000 after buying an additional 675,324 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of 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 worth $62,920,000 after buying an additional 308,802 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Corporation (NYSE GD) opened at 200.95 on Wednesday. The company’s 50-day moving average price is $199.81 and its 200-day moving average price is $195.09. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The company has a market cap of $60.24 billion, a price-to-earnings ratio of 19.85 and a beta of 0.71.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders 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 annualized dividend and a dividend yield of 1.67%. General Dynamics Corporation’s dividend payout ratio (DPR) is currently 34.57%.

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GD has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered General Dynamics Corporation from an “outperform” rating to a “market perform” rating and set a $212.00 target price on the stock. in a research note on Tuesday, May 9th. They noted that the move was a valuation call. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a research note on Friday, June 2nd. UBS AG restated a “buy” rating and issued a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. General Dynamics Corporation has an average rating of “Buy” and an average price target of $206.59.

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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