General Dynamics Co. (NYSE:GD) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,858 shares of the aerospace company’s stock after selling 377 shares during the quarter. General Dynamics comprises approximately 1.2% of Oakworth Capital Inc.’s portfolio, making the stock its 21st biggest holding. Oakworth Capital Inc.’s holdings in General Dynamics were worth $14,505,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in General Dynamics by 99.3% during the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after buying an additional 14,468 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of General Dynamics in the 3rd quarter worth about $16,077,000. Moreno Evelyn V raised its holdings in shares of General Dynamics by 17.1% in the 3rd quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock worth $6,035,000 after purchasing an additional 3,991 shares during the period. Clough Capital Partners L P purchased a new position in shares of General Dynamics in the 3rd quarter worth about $26,868,000. Finally, Victory Capital Management Inc. raised its holdings in shares of General Dynamics by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock worth $72,063,000 after purchasing an additional 119,264 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GD has been the topic of a number of research reports. UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Royal Bank of Canada raised their price objective on General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Susquehanna raised their price objective on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Finally, Citigroup increased their target price on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $283.80.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Down 0.2 %

NYSE GD traded down $0.53 during mid-day trading on Wednesday, reaching $284.77. 412,007 shares of the company’s stock traded hands, compared to its average volume of 1,070,377. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a fifty day simple moving average of $278.07 and a 200-day simple moving average of $258.67. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The company has a market cap of $78.13 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the business earned $3.58 EPS. General Dynamics’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 47.25%.

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.