United Services Automobile Association Reduces Position in General Dynamics Corporation (NYSE:GD)

United Services Automobile Association decreased its stake in shares of General Dynamics Corporation (NYSE:GD) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,638 shares of the aerospace company’s stock after selling 12,742 shares during the period. United Services Automobile Association owned 0.11% of General Dynamics Corporation worth $59,462,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GD. Quadrant Capital Group LLC raised its position in General Dynamics Corporation by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock valued at $108,000 after buying an additional 4 shares during the period. Savant Capital LLC boosted its position in shares of General Dynamics Corporation by 0.4% in the first quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after buying an additional 7 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of General Dynamics Corporation by 0.5% in the first quarter. North Star Investment Management Corp. now owns 3,316 shares of the aerospace company’s stock valued at $621,000 after buying an additional 16 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its position in shares of General Dynamics Corporation by 0.3% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 7,425 shares of the aerospace company’s stock valued at $1,390,000 after buying an additional 21 shares during the last quarter. Finally, MAI Capital Management boosted its position in shares of General Dynamics Corporation by 0.4% in the first quarter. MAI Capital Management now owns 6,738 shares of the aerospace company’s stock valued at $1,261,000 after buying an additional 26 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

General Dynamics Corporation (NYSE GD) opened at 196.33 on Tuesday. General Dynamics Corporation has a one year low of $145.69 and a one year high of $205.90. The firm’s 50-day moving average price is $200.60 and its 200 day moving average price is $192.67. The firm has a market cap of $58.86 billion, a P/E ratio of 19.40 and a beta of 0.72.

General Dynamics Corporation (NYSE:GD) last released its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 EPS. On average, equities research analysts forecast that General Dynamics Corporation will post $9.80 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, July 7th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Wednesday, July 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.57%.

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Several research analysts have commented on GD shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, June 2nd. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $200.00 target price on shares of General Dynamics Corporation in a report on Tuesday, April 18th. UBS AG reiterated a “buy” rating and issued a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Finally, Zacks Investment Research raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $204.72.

In other news, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the sale, the director now owns 7,336 shares in the company, valued at approximately $1,437,929.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher Marzilli sold 43,890 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the sale, the vice president now owns 107,857 shares in the company, valued at approximately $21,719,164.09. The disclosure for this sale can be found here. 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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