Buckingham Asset Management LLC Raises Position in General Dynamics Corporation (GD)

Buckingham Asset Management LLC lifted its stake in General Dynamics Corporation (NYSE:GD) by 137.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,630 shares of the aerospace company’s stock after purchasing an additional 5,002 shares during the period. Buckingham Asset Management LLC’s holdings in General Dynamics Corporation were worth $1,710,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GD. Usca Ria LLC acquired a new stake in General Dynamics Corporation during the 1st quarter worth $277,000. Stoneridge Investment Partners LLC grew its holdings in General Dynamics Corporation by 92.6% during the 1st quarter. Stoneridge Investment Partners LLC now owns 2,437 shares of the aerospace company’s stock worth $456,000 after acquiring an additional 1,172 shares during the period. Wedge Capital Management L L P NC grew its holdings in General Dynamics Corporation by 25.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 367,041 shares of the aerospace company’s stock worth $68,710,000 after acquiring an additional 75,200 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in General Dynamics Corporation by 23.1% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 10,156 shares of the aerospace company’s stock worth $1,901,000 after acquiring an additional 1,904 shares during the period. Finally, Tyers Asset Management LLC grew its holdings in General Dynamics Corporation by 19.9% during the 1st quarter. Tyers Asset Management LLC now owns 4,246 shares of the aerospace company’s stock worth $795,000 after acquiring an additional 704 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, June 2nd. Morgan Stanley assumed coverage on shares of General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 target price for the company. Finally, UBS AG reaffirmed a “buy” rating and set a $225.00 target price (up previously from $215.00) on shares of General Dynamics Corporation in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. General Dynamics Corporation presently has a consensus rating of “Buy” and an average price target of $206.59.

General Dynamics Corporation (NYSE:GD) opened at 198.27 on Friday. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $205.90. The company has a market capitalization of $59.44 billion, a PE ratio of 19.59 and a beta of 0.71. The stock’s 50 day moving average is $198.99 and its 200-day moving average is $196.26.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the prior year, the company posted $2.30 earnings per share. General Dynamics Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts expect that General Dynamics Corporation will post $9.80 EPS for the current year.

The company 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 dividend payout ratio (DPR) is presently 34.57%.

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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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