Huntington National Bank Reduces Stake in General Dynamics Co. (NYSE:GD)

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Huntington National Bank lowered its position in General Dynamics Co. (NYSE:GD) by 4.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 12,045 shares of the aerospace company’s stock after selling 563 shares during the period. Huntington National Bank’s holdings in General Dynamics were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in General Dynamics by 16.3% in the first quarter. Wellington Management Group LLP now owns 15,587,245 shares of the aerospace company’s stock valued at $2,062,349,000 after buying an additional 2,180,725 shares during the last quarter. Franklin Resources Inc. boosted its position in General Dynamics by 22.9% in the 1st quarter. Franklin Resources Inc. now owns 4,678,144 shares of the aerospace company’s stock worth $618,966,000 after purchasing an additional 872,906 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in General Dynamics by 21.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,665,897 shares of the aerospace company’s stock worth $617,345,000 after purchasing an additional 808,400 shares in the last quarter. Geode Capital Management LLC boosted its position in General Dynamics by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 3,290,115 shares of the aerospace company’s stock worth $434,355,000 after purchasing an additional 50,688 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its position in General Dynamics by 1.5% in the 1st quarter. Aristotle Capital Management LLC now owns 3,201,630 shares of the aerospace company’s stock worth $423,608,000 after purchasing an additional 48,864 shares in the last quarter. Hedge funds and other institutional investors own 85.57% of the company’s stock.

GD traded down $2.12 during trading hours on Friday, hitting $146.74. The company’s stock had a trading volume of 1,659,624 shares, compared to its average volume of 1,125,946. General Dynamics Co. has a fifty-two week low of $100.55 and a fifty-two week high of $193.76. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $42.09 billion, a PE ratio of 13.03, a PEG ratio of 2.46 and a beta of 1.05. The company has a 50-day simple moving average of $148.68 and a 200 day simple moving average of $151.85.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $9.03 billion. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.77 EPS. Research analysts expect that General Dynamics Co. will post 11.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 3rd will be issued a dividend of $1.10 per share. The ex-dividend date is Wednesday, July 1st. This represents a $4.40 annualized dividend and a yield of 3.00%. General Dynamics’s dividend payout ratio (DPR) is currently 36.73%.

GD has been the topic of several recent research reports. TheStreet lowered General Dynamics from a “b-” rating to a “c+” rating in a research report on Thursday, July 9th. UBS Group decreased their target price on General Dynamics from $190.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Argus decreased their target price on General Dynamics from $199.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley increased their target price on General Dynamics from $146.00 to $151.00 and gave the company an “underweight” rating in a research report on Tuesday, April 14th. Finally, Royal Bank of Canada increased their target price on General Dynamics from $157.00 to $164.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $183.57.

General Dynamics Company 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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