General Dynamics Corporation (GD) Holdings Reduced by Palisade Asset Management LLC

Palisade Asset Management LLC lessened its stake in General Dynamics Corporation (NYSE:GD) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,424 shares of the aerospace company’s stock after selling 630 shares during the period. General Dynamics Corporation accounts for 2.1% of Palisade Asset Management LLC’s portfolio, making the stock its 18th largest holding. Palisade Asset Management LLC’s holdings in General Dynamics Corporation were worth $10,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of General Dynamics Corporation during the 1st quarter valued at $323,000. Fisher Asset Management LLC raised its position in shares of General Dynamics Corporation by 2.1% during the 1st quarter. Fisher Asset Management LLC now owns 13,613 shares of the aerospace company’s stock valued at $2,548,000 after acquiring an additional 285 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of General Dynamics Corporation by 105.4% during the 1st quarter. Acadian Asset Management LLC now owns 11,678 shares of the aerospace company’s stock valued at $2,186,000 after acquiring an additional 5,993 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in shares of General Dynamics Corporation by 19.9% during the 1st quarter. Glen Harbor Capital Management LLC now owns 3,088 shares of the aerospace company’s stock valued at $578,000 after acquiring an additional 512 shares during the last quarter. Finally, Crossvault Capital Management LLC bought a new stake in shares of General Dynamics Corporation during the 1st quarter valued at $242,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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Several brokerages have commented on GD. UBS AG reissued a “buy” rating and set a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating on shares of General Dynamics Corporation in a report on Friday, August 11th. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley started coverage on shares of General Dynamics Corporation in a research report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 target price on the stock. Two 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 company. The stock has a consensus rating of “Buy” and a consensus target price of $206.59.

General Dynamics Corporation (NYSE GD) traded up 0.32% during mid-day trading on Friday, reaching $198.27. 2,095,613 shares of the company were exchanged. The stock has a 50 day moving average of $198.99 and a 200-day moving average of $196.26. General Dynamics Corporation has a one year low of $148.76 and a one year high of $205.90. The stock has a market capitalization of $59.44 billion, a price-to-earnings ratio of 19.59 and a beta of 0.71.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the firm posted $2.30 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Corporation will post $9.80 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s payout ratio is currently 34.57%.

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.

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

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