Beacon Financial Group Lowers stake in General Dynamics Corporation (GD)

General Dynamics Corporation (GD) : Beacon Financial Group reduced its stake in General Dynamics Corporation by 4.87% during the most recent quarter end. The investment management company now holds a total of 7,466 shares of General Dynamics Corporation which is valued at $988,050 after selling 382 shares in General Dynamics Corporation according to a report filed by the company on Apr 1, 2016 with the SEC.General Dynamics Corporation makes up approximately 0.21% of Beacon Financial Group’s portfolio.

On the company’s financial health, General Dynamics Corporation reported $2.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $2.38. The company had revenue of $7809.00 million for the quarter, compared to analysts expectations of $8241.23 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.19 EPS.

Many Wall Street Analysts have commented on General Dynamics Corporation. General Dynamics Corporation was Initiated by Guggenheim to “Buy” on Apr 5, 2016. Shares were Downgraded by Deutsche Bank on Mar 24, 2016 to ” Hold” and Lowered the Price Target to $ 152 from a previous price target of $170 .Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Outperform” and Lowered the Price Target to $ 166 from a previous price target of $173 .

General Dynamics Corporation closed down -1.01 points or -0.76% at $131.9 with 9,02,231 shares getting traded on Monday. Post opening the session at $133.38, the shares hit an intraday low of $131.86 and an intraday high of $134.07 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles weapons systems and munitions; communications and information technology systems and solutions and military and commercial shipbuilding. The Company operates through four business groups: Aerospace Combat Systems Information Systems and Technology and Marine Systems. Aerospace group designs manufactures and outfits a family of Gulfstream business-jet aircraft and provides aircraft services. Combat Systems group is engaged in systems engineering spanning design development manufacture and support of military vehicles weapons systems and munitions. Marine Systems group designs builds and supports submarines and surface ships. Information Systems and Technology group provides technologies products and services that support a range of military federal/civilian and commercial information-systems requirements.

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