Cetera Advisor Networks LLC Sells 1,689 Shares of General Dynamics Co. (NYSE:GD)

Cetera Advisor Networks LLC decreased its stake in General Dynamics Co. (NYSE:GD) by 2.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 59,765 shares of the aerospace company’s stock after selling 1,689 shares during the quarter. Cetera Advisor Networks LLC’s holdings in General Dynamics were worth $16,883,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI acquired a new stake in shares of General Dynamics during the 4th quarter valued at $208,000. TIAA Trust National Association increased its position in General Dynamics by 2.3% in the 4th quarter. TIAA Trust National Association now owns 7,603 shares of the aerospace company’s stock valued at $1,974,000 after acquiring an additional 174 shares during the period. Venturi Wealth Management LLC raised its stake in shares of General Dynamics by 15.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,868 shares of the aerospace company’s stock valued at $485,000 after acquiring an additional 253 shares during the last quarter. Trust Point Inc. bought a new stake in shares of General Dynamics in the fourth quarter worth $779,000. Finally, Ballentine Partners LLC increased its holdings in General Dynamics by 5.0% in the fourth quarter. Ballentine Partners LLC now owns 2,845 shares of the aerospace company’s stock valued at $739,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the transaction, the vice president now directly owns 16,624 shares in the company, valued at approximately $4,901,586.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,499 shares of company stock worth $15,554,941. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Down 0.4 %

NYSE:GD traded down $1.06 on Friday, hitting $292.39. The stock had a trading volume of 990,893 shares, compared to its average volume of 1,197,340. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The firm’s fifty day simple moving average is $292.16 and its two-hundred day simple moving average is $283.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a market cap of $80.34 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley increased their price objective on shares of General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $312.17.

About General Dynamics

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.