General Dynamics Corporation (GD) Stake Held by Covington Investment Advisors Inc.

Covington Investment Advisors Inc. held its stake in shares of General Dynamics Corporation (NYSE:GD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,800 shares of the aerospace company’s stock at the close of the second quarter. Covington Investment Advisors Inc.’s holdings in General Dynamics Corporation were worth $3,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Zions Bancorporation lifted its position in General Dynamics Corporation by 0.5% in the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after acquiring an additional 4 shares in the last quarter. Norway Savings Bank lifted its position in General Dynamics Corporation by 0.5% in the 2nd quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock valued at $201,000 after acquiring an additional 5 shares in the last quarter. Savant Capital LLC lifted its position in General Dynamics Corporation by 0.4% in the 1st quarter. Savant Capital LLC now owns 1,815 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 7 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in General Dynamics Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after acquiring an additional 8 shares in the last quarter. Finally, Aviance Capital Management LLC lifted its position in General Dynamics Corporation by 0.3% in the 1st quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock valued at $692,000 after acquiring an additional 10 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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Shares of General Dynamics Corporation (NYSE:GD) opened at 202.18 on Tuesday. The stock’s 50 day moving average is $199.11 and its 200 day moving average is $196.41. The stock has a market cap of $60.61 billion, a price-to-earnings ratio of 19.97 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 issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.30 earnings per share. On average, equities 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, November 10th. Investors of record on Friday, October 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.66%. General Dynamics Corporation’s dividend payout ratio (DPR) is 34.57%.

GD has been the topic of several recent research reports. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $220.00 price target on shares of General Dynamics Corporation in a research report on Friday, June 2nd. UBS AG reaffirmed a “buy” rating and issued a $225.00 price target (up previously from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. Zacks Investment Research upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, June 27th. Finally, BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $206.59.

General Dynamics Corporation Profile

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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