General Dynamics Corporation (NYSE:GD) Stake Boosted by Sii Investments Inc. WI

Sii Investments Inc. WI increased its stake in General Dynamics Corporation (NYSE:GD) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,069 shares of the aerospace company’s stock after buying an additional 792 shares during the period. Sii Investments Inc. WI’s holdings in General Dynamics Corporation were worth $951,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. 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 valued at $2,903,351,000 after buying an additional 14,944,453 shares in the last quarter. Vanguard Group Inc. increased its stake 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 in the last quarter. TIAA CREF Investment Management LLC increased its stake 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 in the last quarter. ProShare Advisors LLC increased its stake 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 in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock valued at $108,300,000 after buying an additional 278,394 shares in the last quarter. 86.77% of the stock is currently owned by institutional investors.

General Dynamics Corporation (GD) opened at 198.73 on Friday. The company has a 50-day moving average of $199.79 and a 200-day moving average of $194.45. The stock has a market capitalization 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.

General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $2.30 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current year.

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

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Several equities research analysts have weighed in on GD shares. Cowen and Company reaffirmed a “buy” rating and set a $210.00 price target on shares of General Dynamics Corporation in a research report on Monday, July 17th. BidaskClub downgraded General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Sanford C. Bernstein reaffirmed a “mkt perform” rating on shares of General Dynamics Corporation in a research report on Wednesday, May 10th. Barclays PLC reaffirmed an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of General Dynamics Corporation in a research report on Monday, May 1st. Finally, Zacks Investment Research downgraded General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $206.59.

In related news, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.

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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