Legacy Private Trust Co. reduced its stake in General Dynamics Co. (NYSE:GD) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,531 shares of the aerospace company’s stock after selling 2,275 shares during the period. Legacy Private Trust Co.’s holdings in General Dynamics were worth $2,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of General Dynamics by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 791,464 shares of the aerospace company’s stock worth $124,426,000 after acquiring an additional 24,451 shares during the last quarter. Geode Capital Management LLC grew its position in shares of General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after buying an additional 193,294 shares during the period. Aspire Private Capital LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $29,000. Financial Advocates Investment Management grew its position in shares of General Dynamics by 356.2% during the 4th quarter. Financial Advocates Investment Management now owns 6,004 shares of the aerospace company’s stock worth $393,000 after buying an additional 4,688 shares during the period. Finally, Actinver Wealth Management Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $534,000. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GD opened at $189.83 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $207.72. The firm has a 50 day moving average of $180.67. The company has a market capitalization of $54.80 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.84 and a beta of 1.20.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that General Dynamics Co. will post 11.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 3rd. General Dynamics’s payout ratio is currently 35.73%.

GD has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “hold” rating and set a $7.00 price objective on shares of Deutsche Bank in a report on Thursday, April 25th. Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective for the company in a report on Sunday, May 19th. UBS Group restated a “buy” rating and set a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Cowen restated an “outperform” rating and set a $230.00 price objective (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the company a “hold” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $196.00.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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