California State Teachers Retirement System lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 490,463 shares of the aerospace company’s stock after selling 4,576 shares during the period. California State Teachers Retirement System owned approximately 0.16% of General Dynamics Corporation worth $97,161,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC raised its position in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after purchasing an additional 278,394 shares in the last quarter. HCR Wealth Advisors raised its position in General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after purchasing an additional 39 shares in the last quarter. Burney Co. raised its position in General Dynamics Corporation by 5.8% in the first quarter. Burney Co. now owns 25,410 shares of the aerospace company’s stock worth $4,757,000 after purchasing an additional 1,404 shares in the last quarter. Boston Advisors LLC raised its position in General Dynamics Corporation by 13.4% in the second quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after purchasing an additional 800 shares in the last quarter. Finally, Morgan Stanley raised its position in General Dynamics Corporation by 12.2% in the first quarter. Morgan Stanley now owns 1,139,288 shares of the aerospace company’s stock worth $213,274,000 after purchasing an additional 124,077 shares in the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.

Shares of General Dynamics Corporation (NYSE GD) opened at 212.93 on Tuesday. The company has a market capitalization of $63.83 billion, a PE ratio of 21.04 and a beta of 0.72. The stock’s 50 day moving average is $204.55 and its 200 day moving average is $199.01. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $214.81.

General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is 34.57%.

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Several research analysts recently issued reports on GD shares. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG reissued a “hold” rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, October 2nd. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Berenberg Bank started coverage on shares of General Dynamics Corporation in a research report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. General Dynamics Corporation presently has a consensus rating of “Hold” and a consensus price target of $209.45.

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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