Cetera Investment Advisers Sells 1,234 Shares of General Dynamics Co. (NYSE:GD)

Cetera Investment Advisers lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 95,305 shares of the aerospace company’s stock after selling 1,234 shares during the period. Cetera Investment Advisers’ holdings in General Dynamics were worth $27,652,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Modera Wealth Management LLC grew its holdings in shares of General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares during the last quarter. 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 worth $587,000 after purchasing an additional 35 shares during the last quarter. Legend Financial Advisors Inc. grew its holdings in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the last quarter. Diversified Trust Co grew its holdings in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in shares of General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several research analyst reports. BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a research note on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $317.41.

General Dynamics Stock Performance

Shares of GD stock opened at $303.92 on Thursday. The company has a market capitalization of $83.38 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $309.97. 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 company’s 50 day moving average price is $296.90 and its two-hundred day moving average price is $292.72.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during 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%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.70 earnings per share. On average, analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.52% of the company’s stock.

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.