Oakworth Capital Inc. Lowers Holdings in General Dynamics Co. (NYSE:GD)

Oakworth Capital Inc. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,718 shares of the aerospace company’s stock after selling 698 shares during the period. General Dynamics makes up 1.1% of Oakworth Capital Inc.’s portfolio, making the stock its 22nd biggest holding. Oakworth Capital Inc.’s holdings in General Dynamics were worth $16,536,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after acquiring an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. grew its position in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners increased its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in General Dynamics by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after acquiring an additional 23,304 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock opened at $308.22 on Tuesday. 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 firm has a market cap of $84.56 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.67 and a beta of 0.61. The business’s 50 day moving average price is $299.68 and its 200-day moving average price is $294.41. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $310.85.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of research reports. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna boosted their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Finally, Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.18.

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.