Argonautica Private Wealth Management Inc. Cuts Stock Position in General Dynamics Corporation $GD

Argonautica Private Wealth Management Inc. reduced its position in General Dynamics Corporation (NYSE:GD) by 2.5% in the second quarter, Holdings Channel.com reports. The firm owned 10,143 shares of the aerospace company’s stock after selling 263 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in General Dynamics were worth $2,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $27,000. Quarry LP boosted its holdings in shares of General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 94 shares in the last quarter. Abound Financial LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $32,000. Nova Wealth Management Inc. purchased a new position in shares of General Dynamics in the 1st quarter worth about $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in shares of General Dynamics in the 2nd quarter worth about $35,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GD shares. Susquehanna increased their target price on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of General Dynamics in a research report on Wednesday, October 8th. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Finally, The Goldman Sachs Group raised their price target on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $327.44.

General Dynamics Trading Up 1.0%

NYSE GD opened at $340.73 on Wednesday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $347.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a 50 day simple moving average of $327.84 and a two-hundred day simple moving average of $300.15. The stock has a market cap of $91.65 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.47.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter last year, the business posted $3.26 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 3,220 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director owned 10,186 shares of the company’s stock, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,020 shares of company stock worth $86,414,503. Insiders own 1.50% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.