Oppenheimer Asset Management Inc. Grows Holdings in General Dynamics Corporation (NYSE:GD)

Oppenheimer Asset Management Inc. boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 124,032 shares of the aerospace company's stock after purchasing an additional 1,175 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in General Dynamics were worth $33,809,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after purchasing an additional 706,317 shares during the last quarter. Capital Research Global Investors grew its position in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after purchasing an additional 463,497 shares during the last quarter. Geode Capital Management LLC grew its position in General Dynamics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock valued at $1,496,939,000 after purchasing an additional 131,268 shares during the last quarter. Sanders Capital LLC grew its position in General Dynamics by 0.8% during the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after purchasing an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada grew its position in General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after purchasing an additional 145,978 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

NYSE GD opened at $278.46 on Monday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The stock has a market cap of $74.74 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.88 and a beta of 0.46. The company's 50 day moving average is $275.58 and its two-hundred day moving average is $266.45. The company has a current ratio of 1.34, a quick ratio of 0.82 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 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter last year, the business earned $2.88 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the sale, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. Cowen reissued a "buy" rating on shares of General Dynamics in a research report on Thursday, April 24th. Susquehanna raised their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. UBS Group raised their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Finally, Citigroup dropped their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $293.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.