AdvisorNet Financial Inc Sells 89 Shares of General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Mar 24th, 2023

AdvisorNet Financial Inc cut its stake in General Dynamics Co. (NYSE:GD – Get Rating) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,892 shares of the aerospace company’s stock after selling 89 shares during the quarter. AdvisorNet Financial Inc’s holdings in General Dynamics were worth $966,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GD. GoalVest Advisory LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $25,000. MADDEN SECURITIES Corp bought a new position in shares of General Dynamics in the 4th quarter worth about $25,000. Certified Advisory Corp bought a new position in shares of General Dynamics in the 1st quarter worth about $25,000. Coston McIsaac & Partners bought a new position in shares of General Dynamics in the 2nd quarter worth about $32,000. Finally, Annapolis Financial Services LLC bought a new position in shares of General Dynamics in the 3rd quarter worth about $36,000. 84.83% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, VP Mark Lagrand Burns sold 27,600 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $226.93, for a total value of $6,263,268.00. Following the transaction, the vice president now owns 56,909 shares in the company, valued at approximately $12,914,359.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE GD opened at $220.11 on Friday. The firm’s 50-day moving average price is $229.38 and its 200-day moving average price is $236.60. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.50. The company has a market cap of $60.40 billion, a PE ratio of 18.04, a PEG ratio of 2.01 and a beta of 0.84. General Dynamics Co. has a 52-week low of $207.42 and a 52-week high of $256.86.

General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.05. The firm had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.66 billion. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.39 EPS. As a group, analysts anticipate that General Dynamics Co. will post 12.74 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, April 13th. This is a boost from General Dynamics’s previous quarterly dividend of $1.26. General Dynamics’s dividend payout ratio is 41.31%.

Analyst Ratings Changes

GD has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of General Dynamics from $260.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, January 27th. Citigroup cut their price objective on shares of General Dynamics from $298.00 to $283.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. Morgan Stanley increased their price objective on shares of General Dynamics from $243.00 to $248.00 in a research report on Thursday, January 26th. Robert W. Baird cut their price objective on shares of General Dynamics from $290.00 to $268.00 in a research report on Thursday, January 26th. Finally, Credit Suisse Group cut their price objective on shares of General Dynamics from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.15.

General Dynamics Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.