General Dynamics Corporation (GD) Stake Lowered by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its stake in General Dynamics Corporation (NYSE:GD) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,903 shares of the aerospace company’s stock after selling 2,760 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Dynamics Corporation were worth $1,566,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GD. Ruggie Capital Group acquired a new stake in General Dynamics Corporation during the 1st quarter worth approximately $119,000. Zions Bancorporation lifted its holdings in 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 buying an additional 4 shares in the last quarter. Global X Management Co. LLC lifted its holdings in General Dynamics Corporation by 59.8% during the 1st 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. Central Bank & Trust Co. lifted its holdings in General Dynamics Corporation by 5.7% during the 2nd quarter. Central Bank & Trust Co. now owns 922 shares of the aerospace company’s stock worth $183,000 after buying an additional 50 shares in the last quarter. Finally, First Command Bank lifted its holdings in General Dynamics Corporation by 31.3% during the 2nd quarter. First Command Bank now owns 952 shares of the aerospace company’s stock worth $189,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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General Dynamics Corporation (NYSE GD) opened at 199.00 on Wednesday. The company has a 50 day moving average of $199.14 and a 200-day moving average of $196.12. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The stock has a market capitalization of $59.66 billion, a P/E ratio of 19.66 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post $9.80 EPS 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 issued a $0.84 dividend. The ex-dividend date is Thursday, October 5th. This represents a $3.36 annualized dividend and a yield of 1.69%. General Dynamics Corporation’s dividend payout ratio is presently 34.57%.

GD has been the topic of a number of research reports. Jefferies Group LLC reiterated a “buy” rating on shares of General Dynamics Corporation in a report on Friday, August 11th. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $210.00 target price (up from $207.00) on shares of General Dynamics Corporation in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. General Dynamics Corporation presently has a consensus rating of “Buy” and a consensus target price of $206.59.

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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