Oppenheimer & Co. Inc. Sells 390 Shares of General Dynamics Co. (NYSE:GD)

Oppenheimer & Co. Inc. cut its position in shares of General Dynamics Co. (NYSE:GD) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,684 shares of the aerospace company’s stock after selling 390 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in General Dynamics were worth $9,666,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after buying an additional 943,247 shares during the last quarter. Geode Capital Management LLC boosted its holdings in General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after acquiring an additional 638,342 shares during the period. Two Sigma Advisers LP grew its position in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after acquiring an additional 463,000 shares during the last quarter. Barclays PLC increased its stake in General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after purchasing an additional 283,972 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after purchasing an additional 189,904 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of GD opened at $251.53 on Friday. The company has a 50 day moving average of $258.53 and a two-hundred day moving average of $281.44. The company has a market cap of $68.00 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

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

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $1.42 per share. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.26%. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GD shares. Royal Bank of Canada reduced their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Susquehanna dropped their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Finally, TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $296.71.

General Dynamics Profile

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.