11.1% Stake of General Dynamics Corporation (GD) Owned by Longview Asset Management, LLC

Longview Asset Management, LLC

disclosed that they own 11.1% of General Dynamics Corporation (NYSE:GD) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, August 1st. The investor owns 33,328,111 shares of the stock valued at about $6,623,295,499. The disclosure is available through Edgar at this link.

Longview Asset Management, LLC

provided the following explanation of their ownership:

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Several other large investors have also recently bought and sold shares of GD. BlackRock Inc. increased its stake in shares of General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Vanguard Group Inc. boosted its position in shares of General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock valued at $3,706,525,000 after buying an additional 894,177 shares during the period. Janus Capital Management LLC boosted its position in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after buying an additional 749,793 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of General Dynamics Corporation by 59.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,809,357 shares of the aerospace company’s stock valued at $338,712,000 after buying an additional 675,324 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of General Dynamics Corporation by 1,130.7% in the first quarter. ProShare Advisors LLC now owns 336,112 shares of the aerospace company’s stock valued at $62,920,000 after buying an additional 308,802 shares during the period. Institutional investors own 86.77% of the company’s stock.

Shares of General Dynamics Corporation (NYSE GD) opened at 198.73 on Friday. The stock has a market cap of $59.58 billion, a price-to-earnings ratio of 19.63 and a beta of 0.71. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $205.90. The stock’s 50 day moving average is $199.79 and its 200 day moving average is $194.45.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 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 period in the previous year, the firm earned $2.30 EPS. General Dynamics Corporation’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that General Dynamics Corporation will post $9.81 earnings per share for the current fiscal year.

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

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Several research analysts recently issued reports on the company. Jefferies Group LLC reissued a “buy” rating on shares of General Dynamics Corporation in a research note on Friday, August 11th. Citigroup Inc. reaffirmed a “neutral” rating and set a $210.00 target price (up previously from $207.00) on shares of General Dynamics Corporation in a research report on Friday, August 11th. BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Morgan Stanley initiated coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price objective for the company. Finally, Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the sale, the vice president now directly owns 107,857 shares in the company, valued at approximately $21,719,164.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.70% of the stock is currently owned by 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.

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

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