FTB Advisors Inc. Sells 33 Shares of General Dynamics Corporation (GD)

FTB Advisors Inc. lessened its holdings in General Dynamics Corporation (NYSE:GD) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,233 shares of the aerospace company’s stock after selling 33 shares during the quarter. FTB Advisors Inc.’s holdings in General Dynamics Corporation were worth $1,234,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of General Dynamics Corporation by 44,941.4% in the second 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 period. Cambria Investment Management L.P. boosted its position in shares of General Dynamics Corporation by 160.7% in the second quarter. Cambria Investment Management L.P. now owns 14,843 shares of the aerospace company’s stock valued at $2,940,000 after acquiring an additional 9,150 shares during the period. Shelton Capital Management bought a new stake in shares of General Dynamics Corporation in the second quarter valued at about $479,000. Macquarie Group Ltd. boosted its position in shares of General Dynamics Corporation by 106.0% in the second quarter. Macquarie Group Ltd. now owns 35,638 shares of the aerospace company’s stock valued at $7,060,000 after acquiring an additional 18,342 shares during the period. Finally, Flinton Capital Management LLC boosted its position in shares of General Dynamics Corporation by 3.1% in the second quarter. Flinton Capital Management LLC now owns 5,572 shares of the aerospace company’s stock valued at $1,104,000 after acquiring an additional 168 shares during the period. 86.17% of the stock is owned by institutional investors.

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GD has been the subject of a number of recent research reports. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, July 7th. Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a research report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 target price for the company. Cowen and Company reissued a “buy” rating and issued a $210.00 target price on shares of General Dynamics Corporation in a research report on Monday, July 17th. Finally, ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have issued 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 target price of $209.45.

General Dynamics Corporation (NYSE GD) opened at 213.72 on Friday. The firm’s 50-day moving average price is $204.00 and its 200 day moving average price is $198.66. The firm has a market cap of $64.07 billion, a P/E ratio of 21.11 and a beta of 0.72. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $214.11.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. General Dynamics Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.30 EPS. Equities analysts forecast that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.

The company 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 dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.57%. General Dynamics Corporation’s dividend payout ratio is 34.57%.

General Dynamics Corporation 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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