Oppenheimer Asset Management Inc. Acquires New Position in General Dynamics Corporation $GD

Key Points

• Oppenheimer Asset Management acquired 116,358 General Dynamics shares worth approximately $41.2 million, while institutional investors collectively own 86.14% of the company.
• General Dynamics exceeded quarterly expectations, reporting $4.24 in EPS and $14.09 billion in revenue, with revenue up 8.1% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $410.89.
• Company insiders sold 100,228 shares worth about $38.1 million over the past 90 days, while General Dynamics declared a quarterly dividend of $1.59 per share, representing a 1.6% yield.

Oppenheimer Asset Management Inc. acquired a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 116,358 shares of the aerospace company's stock, valued at approximately $41,219,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC lifted its position in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 69 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. Wilkerson Advisory Group LLC increased its stake in General Dynamics by 79.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 39 shares in the last quarter. Center for Financial Planning Inc. increased its stake in General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 64 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in General Dynamics during the fourth quarter worth $31,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 51,568 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the completion of the transaction, the chief executive officer owned 766,457 shares of the company's stock, valued at $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marguerite Amy Gilliland sold 43,180 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the transaction, the executive vice president directly owned 44,767 shares in the company, valued at $16,923,716.68. The trade was a 49.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 100,228 shares of company stock worth $38,052,853 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Stock Up 0.6%

Shares of NYSE:GD opened at $395.46 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $106.99 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.27 and a beta of 0.33. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The stock's fifty day simple moving average is $370.17 and its 200-day simple moving average is $354.71.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The firm had revenue of $14.09 billion during the quarter, compared to analysts' expectations of $13.52 billion. During the same quarter last year, the business posted $3.74 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 16.97 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. The ex-dividend date is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.6%. General Dynamics's payout ratio is 38.80%.

Analyst Ratings Changes

GD has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research report on Monday, May 4th. Wells Fargo & Company lifted their price target on General Dynamics from $400.00 to $440.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Wall Street Zen cut shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, UBS Group raised their target price on shares of General Dynamics from $366.00 to $395.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, General Dynamics presently has an average rating of "Moderate Buy" and a consensus target price of $410.89.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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