Apollon Wealth Management LLC Cuts Position in General Dynamics Co. (NYSE:GD)

Apollon Wealth Management LLC trimmed its position in General Dynamics Co. (NYSE:GD) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,686 shares of the aerospace company’s stock after selling 1,546 shares during the quarter. Apollon Wealth Management LLC’s holdings in General Dynamics were worth $6,292,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Flputnam Investment Management Co. grew its stake in shares of General Dynamics by 10.1% in the fourth quarter. Flputnam Investment Management Co. now owns 1,286 shares of the aerospace company’s stock valued at $334,000 after buying an additional 118 shares in the last quarter. SVB Wealth LLC grew its stake in shares of General Dynamics by 33.2% in the fourth quarter. SVB Wealth LLC now owns 2,675 shares of the aerospace company’s stock valued at $695,000 after buying an additional 666 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of General Dynamics by 0.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,868 shares of the aerospace company’s stock valued at $13,728,000 after buying an additional 146 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of General Dynamics by 45.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,027 shares of the aerospace company’s stock valued at $526,000 after buying an additional 637 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in General Dynamics during the 4th quarter valued at approximately $38,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD stock traded down $0.99 during mid-day trading on Monday, hitting $295.60. 685,220 shares of the stock traded hands, compared to its average volume of 1,062,436. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The firm has a market cap of $81.10 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The company’s 50-day simple moving average is $290.81 and its 200-day simple moving average is $286.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.70 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Insiders Place Their Bets

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

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.