General Dynamics Corporation (NYSE:GD) Position Raised by Oakworth Capital Inc.

Oakworth Capital Inc. grew its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,356 shares of the aerospace company's stock after buying an additional 2,699 shares during the quarter. General Dynamics comprises 1.1% of Oakworth Capital Inc.'s holdings, making the stock its 23rd biggest position. Oakworth Capital Inc.'s holdings in General Dynamics were worth $15,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC raised its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. Inlight Wealth Management LLC bought a new position in General Dynamics during the first quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $26,000. Finally, Copia Wealth Management acquired a new position in General Dynamics during the fourth quarter worth $27,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer now owns 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. UBS Group upped their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Citigroup reduced their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. TD Securities increased their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $290.24.

General Dynamics Price Performance

General Dynamics stock opened at $291.63 on Friday. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $316.90. The company has a market cap of $78.27 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.92 and a beta of 0.46. The firm's fifty day moving average is $276.24 and its 200 day moving average is $266.91. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the previous year, the company posted $2.88 EPS. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

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.

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