Oppenheimer Asset Management Inc. Lowers Position in General Dynamics Co. (NYSE:GD)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 122,857 shares of the aerospace company’s stock after selling 852 shares during the period. Oppenheimer Asset Management Inc.’s holdings in General Dynamics were worth $32,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hara Capital LLC purchased a new stake in shares of General Dynamics during the third quarter valued at approximately $26,000. Financial Life Planners purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Dynamics during the fourth quarter valued at $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.4 %

NYSE GD opened at $248.92 on Thursday. The stock’s 50-day simple moving average is $258.71 and its two-hundred day simple moving average is $281.65. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $67.30 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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%. Research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

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 $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.28%. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics announced that its board has authorized a stock buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GD shares. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday, January 28th. Finally, Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.71.

Insider Transactions at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated 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 directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

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.