Bank of New York Mellon Corp Sells 275,109 Shares of General Dynamics Corporation (GD)

Bank of New York Mellon Corp lessened its holdings in General Dynamics Corporation (NYSE:GD) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,315,290 shares of the aerospace company’s stock after selling 275,109 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of General Dynamics Corporation worth $475,976,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GD. BlackRock Inc. boosted its position 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 acquiring an additional 14,944,453 shares during the period. Janus Henderson Group PLC boosted its position in shares of General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock valued at $990,241,000 after acquiring an additional 4,987,595 shares during the period. Vanguard Group Inc. boosted its position 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 acquiring an additional 894,177 shares during the period. Janus Capital Management LLC boosted its position in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock valued at $776,563,000 after acquiring an additional 749,793 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after acquiring an additional 725,896 shares during the period. 85.79% of the stock is owned by institutional investors.

Shares of General Dynamics Corporation (NYSE GD) traded up $0.09 during midday trading on Wednesday, reaching $200.22. The company’s stock had a trading volume of 813,600 shares, compared to its average volume of 1,151,676. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. The firm has a market capitalization of $59,755.40, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. General Dynamics Corporation has a 12-month low of $164.97 and a 12-month high of $214.81.

General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 earnings per share. equities research analysts forecast that General Dynamics Corporation will post 9.82 EPS for the current year.

GD has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. Cowen and Company reissued a “buy” rating and issued a $230.00 target price on shares of General Dynamics Corporation in a research report on Thursday, October 19th. Deutsche Bank AG reissued a “hold” rating and issued a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a research report on Monday, October 2nd. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. General Dynamics Corporation currently has an average rating of “Hold” and a consensus target price of $217.19.

In other General Dynamics Corporation news, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

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General Dynamics Corporation Company 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.

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Institutional Ownership by Quarter for General Dynamics Corporation (NYSE:GD)

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