Investment Centers of America Inc. Increases Position in General Dynamics Corporation (NYSE:GD)

Investment Centers of America Inc. boosted its position in General Dynamics Corporation (NYSE:GD) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,923 shares of the aerospace company’s stock after buying an additional 528 shares during the period. Investment Centers of America Inc.’s holdings in General Dynamics Corporation were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 worth $3,706,525,000 after buying an additional 894,177 shares in the last quarter. BlackRock Inc. increased its position 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 worth $2,903,351,000 after buying an additional 14,944,453 shares in the last quarter. Geode Capital Management LLC increased its position in General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares in the last quarter. Bank of New York Mellon Corp increased its position in General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after buying an additional 214,825 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in General Dynamics Corporation by 0.7% in the first quarter. Neuberger Berman Group LLC now owns 1,837,893 shares of the aerospace company’s stock worth $344,053,000 after buying an additional 12,376 shares in the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.

General Dynamics Corporation (NYSE GD) traded up 0.37% during mid-day trading on Friday, hitting $198.73. The stock had a trading volume of 1,581,719 shares. The stock has a market cap of $59.58 billion, a price-to-earnings ratio of 19.63 and a beta of 0.71. The company has a 50-day moving average of $199.79 and a 200-day moving average of $194.45. General Dynamics Corporation has a 12-month low of $148.76 and a 12-month high of $205.90.

General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings data 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. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the company posted $2.30 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.

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A number of research analysts recently issued reports on GD shares. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics Corporation in a research note on Friday, August 11th. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus raised their price target on General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned 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 price target of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the completion of the sale, the vice president now directly owns 107,857 shares in the company, valued at $21,719,164.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.70% of the company’s stock.

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.

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

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