Cetera Advisor Networks LLC Has $13.17 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Jun 13th, 2023

Cetera Advisor Networks LLC lifted its stake in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,092 shares of the aerospace company’s stock after acquiring an additional 11,783 shares during the period. Cetera Advisor Networks LLC’s holdings in General Dynamics were worth $13,173,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GD. GoalVest Advisory LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $25,000. MADDEN SECURITIES Corp bought a new position in General Dynamics in the fourth quarter valued at $25,000. Certified Advisory Corp bought a new position in General Dynamics in the first quarter valued at $25,000. VitalStone Financial LLC bought a new position in General Dynamics in the fourth quarter valued at $26,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in General Dynamics in the fourth quarter valued at $32,000. Institutional investors own 84.83% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $213.09 on Tuesday. The firm has a 50-day moving average of $215.91 and a 200-day moving average of $229.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.39. The stock has a market cap of $58.46 billion, a PE ratio of 17.42, a P/E/G ratio of 1.87 and a beta of 0.84. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $256.86.

General Dynamics (NYSE:GD – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.08. General Dynamics had a net margin of 8.50% and a return on equity of 18.66%. The business had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the previous year, the company earned $2.61 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that General Dynamics Co. will post 12.66 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, July 7th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, July 6th. General Dynamics’s dividend payout ratio (DPR) is 43.17%.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm acquired 4,700 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was acquired at an average price of $214.47 per share, for a total transaction of $1,008,009.00. Following the purchase, the director now directly owns 4,700 shares of the company’s stock, valued at $1,008,009. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Credit Suisse Group decreased their target price on shares of General Dynamics from $239.00 to $220.00 in a research report on Thursday, April 27th. William Blair started coverage on shares of General Dynamics in a research report on Thursday, March 30th. They issued an “outperform” rating for the company. Royal Bank of Canada decreased their price objective on shares of General Dynamics from $280.00 to $270.00 in a research report on Thursday, April 27th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $251.00 to $245.00 in a research report on Thursday, May 4th. Finally, StockNews.com started coverage on shares of General Dynamics in a research report on Thursday, May 18th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.69.

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.