AdvisorNet Financial Inc Has $960,000 Holdings in General Dynamics Co. (NYSE:GD)

AdvisorNet Financial Inc trimmed its position in General Dynamics Co. (NYSE:GD) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,644 shares of the aerospace company’s stock after selling 59 shares during the quarter. AdvisorNet Financial Inc’s holdings in General Dynamics were worth $960,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Wealthspire Advisors LLC raised its stake in General Dynamics by 9.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,712 shares of the aerospace company’s stock valued at $497,000 after purchasing an additional 154 shares during the period. Rathbones Group PLC grew its holdings in shares of General Dynamics by 1.8% during the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after buying an additional 35 shares in the last quarter. Dimensional Fund Advisors LP raised its position in General Dynamics by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,485,242 shares of the aerospace company’s stock valued at $430,928,000 after buying an additional 95,349 shares during the period. Citizens Financial Group Inc. RI lifted its stake in General Dynamics by 0.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 23,568 shares of the aerospace company’s stock worth $6,838,000 after acquiring an additional 166 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its position in General Dynamics by 3.1% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 4,685 shares of the aerospace company’s stock worth $1,359,000 after acquiring an additional 140 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 0.5 %

NYSE:GD opened at $264.92 on Wednesday. The company’s 50 day moving average is $275.30 and its 200-day moving average is $288.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The firm has a market cap of $72.84 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the business earned $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current year.

General Dynamics announced that its board has authorized a share repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.14%. General Dynamics’s payout ratio is 43.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $283.00 to $245.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Hold” and an average price target of $304.53.

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.