MARSHALL WACE ASIA Ltd Takes Position in General Dynamics Corporation (GD)

MARSHALL WACE ASIA Ltd purchased a new position in shares of General Dynamics Corporation (NYSE:GD) during the first quarter, Holdings Channel reports. The firm purchased 34,913 shares of the aerospace company’s stock, valued at approximately $6,529,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares in the last quarter. Ruggie Capital Group purchased a new position in General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank purchased a new position in General Dynamics Corporation during the first quarter worth approximately $126,000. Global X Management Co. LLC raised its position in General Dynamics Corporation by 59.8% in the first quarter. Global X Management Co. LLC now owns 759 shares of the aerospace company’s stock worth $142,000 after buying an additional 284 shares in the last quarter. Finally, Central Bank & Trust Co. raised its position in General Dynamics Corporation by 33.9% in the first quarter. Central Bank & Trust Co. now owns 872 shares of the aerospace company’s stock worth $164,000 after buying an additional 221 shares in the last quarter. 86.80% of the stock is currently owned by institutional investors.

Shares of General Dynamics Corporation (NYSE:GD) opened at 204.55 on Monday. The firm’s 50-day moving average is $200.83 and its 200-day moving average is $191.38. The firm has a market cap of $61.73 billion, a P/E ratio of 20.51 and a beta of 0.72. General Dynamics Corporation has a 1-year low of $142.13 and a 1-year high of $205.17.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.16. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.70 billion. General Dynamics Corporation had a return on equity of 28.22% and a net margin of 9.66%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. On average, analysts anticipate 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, August 11th. Shareholders of record on Friday, July 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, July 5th. General Dynamics Corporation’s payout ratio is 34.60%.

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GD has been the topic of a number of research reports. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus boosted their target price on shares of General Dynamics Corporation from $173.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, April 27th. Barclays PLC reaffirmed an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, July 7th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $210.00 target price on shares of General Dynamics Corporation in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $204.72.

In related news, VP Christopher Marzilli sold 43,890 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 107,857 shares in the company, valued at $21,719,164.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $196.01, for a total value of $500,021.51. Following the completion of the transaction, the director now owns 7,336 shares in the company, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.

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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