Argus Investors Counsel Inc. Decreases Stake in General Dynamics Corporation (NYSE:GD)

Argus Investors Counsel Inc. cut its stake in General Dynamics Corporation (NYSE:GD) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,131 shares of the aerospace company’s stock after selling 889 shares during the period. General Dynamics Corporation accounts for 2.0% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 25th largest position. Argus Investors Counsel Inc.’s holdings in General Dynamics Corporation were worth $4,384,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in shares of General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after buying an additional 278,394 shares during the last quarter. Korea Investment CORP raised its stake in shares of General Dynamics Corporation by 128.7% in the first quarter. Korea Investment CORP now owns 255,196 shares of the aerospace company’s stock worth $47,773,000 after buying an additional 143,590 shares during the last quarter. HCR Wealth Advisors raised its stake in shares of General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after buying an additional 39 shares during the last quarter. Nwam LLC raised its stake in shares of General Dynamics Corporation by 24.3% in the first quarter. Nwam LLC now owns 1,786 shares of the aerospace company’s stock worth $334,000 after buying an additional 349 shares during the last quarter. Finally, Burney Co. raised its stake in shares of General Dynamics Corporation by 5.8% in the first quarter. Burney Co. now owns 25,410 shares of the aerospace company’s stock worth $4,757,000 after buying an additional 1,404 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

Shares of General Dynamics Corporation (NYSE:GD) traded up 0.37% on Friday, hitting $198.73. 1,581,719 shares of the stock were exchanged. The stock’s 50-day moving average is $199.79 and its 200-day moving average is $194.45. The stock has a market cap of $59.58 billion, a price-to-earnings ratio of 19.63 and a beta of 0.71. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $205.90.

General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $2.30 earnings per share. Analysts forecast that General Dynamics Corporation will post $9.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. General Dynamics Corporation’s dividend payout ratio is presently 34.57%.

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GD has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Royal Bank Of Canada raised their target price on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a research report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $206.59.

In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the completion of the transaction, the vice president now owns 107,857 shares in the company, valued at $21,719,164.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.70% of the stock is owned by company insiders.

About General Dynamics Corporation

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.

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

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