PNC Financial Services Group Inc. lessened its stake in shares of General Dynamics Corporation (NYSE:GD) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,032,278 shares of the aerospace company’s stock after selling 34,657 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.34% of General Dynamics Corporation worth $204,492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zions Bancorporation raised its stake in shares of General Dynamics Corporation by 0.5% during the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares in the last quarter. Norway Savings Bank lifted its position in General Dynamics Corporation by 0.5% during the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock valued at $201,000 after acquiring an additional 5 shares during the last quarter. Savant Capital LLC lifted its position in General Dynamics Corporation by 0.4% during the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 7 shares during the last quarter. Guardian Life Insurance Co. of America lifted its position in General Dynamics Corporation by 0.7% during 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 acquiring an additional 8 shares during the last quarter. Finally, Aviance Capital Management LLC lifted its position in General Dynamics Corporation by 0.3% during the first quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock valued at $692,000 after acquiring an additional 10 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Corporation (NYSE:GD) opened at 205.58 on Monday. The company has a 50-day moving average of $199.30 and a 200 day moving average of $196.51. The firm has a market cap of $61.63 billion, a P/E ratio of 20.31 and a beta of 0.72. General Dynamics Corporation has a one year low of $148.76 and a one year high of $207.60.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion for 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%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 EPS. Equities research analysts expect that General Dynamics Corporation will post $9.80 earnings per share 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 issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s payout ratio is currently 34.57%.

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Several equities analysts have issued reports on the stock. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cowen and Company reiterated a “buy” rating and set a $210.00 price objective on shares of General Dynamics Corporation in a report on Monday, July 17th. BidaskClub raised General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Berenberg Bank started coverage on General Dynamics Corporation in a research note on Wednesday, July 12th. They set a “buy” rating and a $230.00 target price on the stock. Two research 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $206.59.

General Dynamics Corporation 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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