Webster Bank N. A. Lowers Position in General Dynamics Corporation (GD)

Webster Bank N. A. lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 17,076 shares of the aerospace company’s stock after selling 382 shares during the period. Webster Bank N. A.’s holdings in General Dynamics Corporation were worth $3,383,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Ruggie Capital Group acquired a new position in shares of General Dynamics Corporation during the first quarter worth approximately $119,000. Pinnacle Bank acquired a new position in shares of General Dynamics Corporation during the first quarter worth approximately $126,000. Zions Bancorporation boosted its position in shares of General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of 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 during the last quarter. Finally, Central Bank & Trust Co. boosted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 86.77% of the company’s stock.

General Dynamics Corporation (GD) traded up 0.6509% during trading on Friday, hitting $199.2788. 526,601 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $199.74 and a 200 day moving average price of $194.33. The company has a market cap of $59.74 billion, a price-to-earnings ratio of 19.6877 and a beta of 0.71. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 EPS. On average, equities research analysts predict that General Dynamics Corporation will post $9.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is presently 34.57%.

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GD has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, July 7th. BidaskClub cut shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research report on Tuesday, June 27th. UBS AG reiterated a “buy” rating and issued a $225.00 target price (up previously from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $206.59.

In related news, VP Christopher Marzilli sold 43,890 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were 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 of the company’s stock, valued at approximately $21,719,164.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company 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.

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

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