General Dynamics Corporation (GD) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD lessened its stake in shares of General Dynamics Corporation (NYSE:GD) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,944 shares of the aerospace company’s stock after selling 623 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in General Dynamics Corporation were worth $4,100,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of General Dynamics Corporation by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after acquiring an additional 376,688 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of General Dynamics Corporation by 4.5% in the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after acquiring an additional 725,896 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of General Dynamics Corporation by 5.3% in the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after acquiring an additional 829,487 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of General Dynamics Corporation by 44,941.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock valued at $990,241,000 after acquiring an additional 4,987,595 shares during the last quarter. Finally, Janus Capital Management LLC boosted its holdings in shares of General Dynamics Corporation by 22.1% in the 1st quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after acquiring an additional 749,793 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. General Dynamics Corporation had a net margin of 9.94% and a return on equity of 27.98%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same period last year, the firm posted $2.36 EPS. General Dynamics Corporation’s quarterly revenue was down 1.0% on a year-over-year basis.

Several research firms have recently commented on GD. Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $215.00 price objective (up from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. ValuEngine downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $230.00 price objective on shares of General Dynamics Corporation in a report on Thursday, October 19th. Finally, Stifel Nicolaus upped their price objective on shares of General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. General Dynamics Corporation has an average rating of “Hold” and a consensus price target of $217.19.

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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.

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

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