First Mercantile Trust Co Lowers stake in General Dynamics Corporation (GD)

General Dynamics Corporation (GD) : First Mercantile Trust Co reduced its stake in General Dynamics Corporation by 21.74% during the most recent quarter end. The investment management company now holds a total of 5,400 shares of General Dynamics Corporation which is valued at $825,984 after selling 1,500 shares in General Dynamics Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.General Dynamics Corporation makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co boosted its stake in GD in the latest quarter, The investment management firm added 41 additional shares and now holds a total of 651 shares of General Dynamics Corporation which is valued at $99,577. General Dynamics Corporation makes up approx 0.03% of Central Bank Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in GD by selling 6,235 shares or 2.5% in the most recent quarter. The Hedge Fund company now holds 243,001 shares of GD which is valued at $37,354,114. General Dynamics Corporation makes up approx 0.21% of Chevy Chase Trust Holdings’s portfolio.

General Dynamics Corporation closed down -1.18 points or -0.77% at $152.96 with 20,63,784 shares getting traded on Friday. Post opening the session at $151.83, the shares hit an intraday low of $150.26 and an intraday high of $153.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, General Dynamics Corporation reported $2.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.31. The company had revenue of $7665.00 million for the quarter, compared to analysts expectations of $7864.90 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on General Dynamics Corporation. General Dynamics Corporation was Upgraded by Bernstein to ” Outperform” on Aug 10, 2016.

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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