Argonautica Private Wealth Management Inc. Sells 263 Shares of General Dynamics Corporation $GD

Argonautica Private Wealth Management Inc. lowered its holdings in General Dynamics Corporation (NYSE:GD) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,143 shares of the aerospace company’s stock after selling 263 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in General Dynamics were worth $2,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GD. Nuveen LLC purchased a new position in General Dynamics in the first quarter worth $272,464,000. Ameriprise Financial Inc. lifted its position in shares of General Dynamics by 34.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock valued at $749,252,000 after buying an additional 709,782 shares during the last quarter. Deutsche Bank AG lifted its position in shares of General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock valued at $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Finally, Aurora Private Wealth Inc. lifted its position in shares of General Dynamics by 25,390.6% during the 1st quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company’s stock valued at $55,516,000 after buying an additional 202,871 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price target on General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group upped their price target on General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $327.44.

General Dynamics Stock Performance

NYSE:GD opened at $340.73 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37. The firm has a market cap of $91.65 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.07 and a beta of 0.47. The business’s fifty day moving average is $327.84 and its 200 day moving average is $300.15.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period in the previous year, the company posted $3.26 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

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

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. This represents a 52.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the transaction, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is owned by corporate insiders.

General Dynamics Company 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.