General Dynamics Corporation (GD) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. cut its position in shares of 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 about 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GD. Vanguard Group Inc. increased its stake in shares of General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares during the period. BlackRock Inc. increased its stake in shares of General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Janus Capital Management LLC increased its stake in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares during the period. Geode Capital Management LLC increased its stake in shares of General Dynamics Corporation by 5.1% in the first quarter. Geode Capital Management LLC now owns 2,920,756 shares of the aerospace company’s stock worth $546,040,000 after buying an additional 141,305 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of General Dynamics Corporation by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 2,801,405 shares of the aerospace company’s stock worth $524,423,000 after buying an additional 214,825 shares during the period. Institutional investors and hedge funds own 87.52% of the company’s stock.

Shares of General Dynamics Corporation (GD) traded down 0.76% during midday trading on Tuesday, hitting $199.62. 475,110 shares of the company were exchanged. The company has a market capitalization of $59.84 billion, a P/E ratio of 19.72 and a beta of 0.71. General Dynamics Corporation has a one year low of $147.45 and a one year high of $205.90. The company has a 50-day moving average of $200.54 and a 200 day moving average of $192.80.

General Dynamics Corporation (NYSE:GD) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. General Dynamics Corporation’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.30 earnings per share. On average, equities research analysts expect that General Dynamics Corporation will post $9.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors 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 annualized dividend and a yield of 1.67%. General Dynamics Corporation’s dividend payout ratio is 34.57%.

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A number of analysts have weighed in on GD shares. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus increased their price target on shares of General Dynamics Corporation from $173.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, April 27th. Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Barclays PLC reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics Corporation in a report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $220.00 price target on shares of General Dynamics Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. General Dynamics Corporation presently has a consensus rating of “Buy” and an average price target of $206.05.

In related news, VP Christopher Marzilli sold 43,890 shares of the company’s 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 sale, the vice president now owns 107,857 shares of the company’s stock, valued at $21,719,164.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the sale, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

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.

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

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