Apollon Wealth Management LLC Has $6.29 Million Holdings in General Dynamics Co. (NYSE:GD)

Apollon Wealth Management LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,686 shares of the aerospace company’s stock after selling 1,546 shares during the period. Apollon Wealth Management LLC’s holdings in General Dynamics were worth $6,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in General Dynamics by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 87,787 shares of the aerospace company’s stock valued at $25,471,000 after acquiring an additional 615 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of General Dynamics by 9.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,043 shares of the aerospace company’s stock worth $1,463,000 after purchasing an additional 452 shares during the period. BTC Capital Management Inc. acquired a new position in General Dynamics in the second quarter valued at about $1,259,000. Willner & Heller LLC lifted its position in General Dynamics by 4.4% during the second quarter. Willner & Heller LLC now owns 2,019 shares of the aerospace company’s stock worth $586,000 after purchasing an additional 86 shares during the period. Finally, Garrett Wealth Advisory Group LLC acquired a new stake in General Dynamics during the second quarter worth about $711,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GD. Argus boosted their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating 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 report on Tuesday, July 2nd. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Trading Down 0.3 %

Shares of GD stock traded down $0.99 during trading hours on Monday, hitting $295.60. 685,220 shares of the company’s stock traded hands, compared to its average volume of 1,062,436. The stock’s 50 day simple moving average is $290.81 and its 200 day simple moving average is $286.31. The stock has a market cap of $81.10 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $302.75. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last released 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 business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 EPS. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

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.