General Dynamics Corporation (NYSE:GD) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,768 shares of the aerospace company’s stock after selling 1,910 shares during the period. Acadian Asset Management LLC’s holdings in General Dynamics Corporation were worth $1,935,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in GD. Quadrant Capital Group LLC increased 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. Zions Bancorporation increased its position in 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 in the last quarter. Norway Savings Bank increased its position in General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock worth $201,000 after buying an additional 5 shares in the last quarter. Savant Capital LLC increased its position in General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock worth $340,000 after buying an additional 7 shares in the last quarter. Finally, Guardian Life Insurance Co. of America increased its position in General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock worth $207,000 after buying an additional 8 shares in the last quarter. 87.52% of the stock is owned by institutional investors and hedge funds.

Shares of General Dynamics Corporation (NYSE GD) traded down 0.86% during mid-day trading on Thursday, reaching $199.28. The company had a trading volume of 530,190 shares. The stock’s 50-day moving average price is $200.07 and its 200 day moving average price is $193.56. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90. The company has a market capitalization of $59.74 billion, a PE ratio of 19.69 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the company earned $2.30 EPS. General Dynamics Corporation’s revenue was down 1.3% on a year-over-year basis. Equities analysts expect that General Dynamics Corporation will post $9.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s payout ratio is 34.57%.

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A number of research firms have recently commented on GD. UBS AG reiterated a “buy” rating and set a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley began coverage on General Dynamics Corporation in a research report on Tuesday. They set an “underweight” rating and a $185.00 target price for the company. Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two investment 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. The company currently has a consensus rating of “Buy” and a consensus price target of $206.05.

In related news, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction 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 filing with the SEC, which is available through this hyperlink. Also, Director Lester L. Lyles sold 2,551 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $196.01, for a total value of $500,021.51. Following the transaction, the director now directly 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 currently owned by corporate 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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