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

Oppenheimer & Co. Inc. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,684 shares of the aerospace company’s stock after selling 390 shares during the period. Oppenheimer & Co. Inc.’s holdings in General Dynamics were worth $9,666,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State Street Corp raised its holdings 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 purchasing an additional 943,247 shares during the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 638,342 shares during the last quarter. Two Sigma Advisers LP raised its stake in General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after buying an additional 463,000 shares during the last quarter. Barclays PLC boosted its stake in shares of General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after buying an additional 283,972 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GD has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Barclays dropped their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. UBS Group decreased their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Susquehanna cut their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday, January 30th. Finally, BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $296.71.

General Dynamics Trading Up 0.9 %

General Dynamics stock opened at $251.53 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm’s 50 day moving average price is $258.53 and its 200-day moving average price is $281.44. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The stock has a market cap of $68.00 billion, a P/E ratio of 18.44, a PEG ratio of 1.69 and a beta of 0.61.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, January 17th. General Dynamics’s payout ratio is 41.64%.

General Dynamics announced that its board has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

General Dynamics Company 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.