Oppenheimer Asset Management Inc. Has $33.81 Million Stake in General Dynamics Corporation (NYSE:GD)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rialto Wealth Management LLC raised its position in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $26,000. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the first quarter worth $26,000. Finally, Copia Wealth Management acquired a new position in shares of General Dynamics during the fourth quarter valued at $27,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GD has been the subject of a number of research reports. Citigroup lowered their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price target 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 Cowen boosted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday. One investment 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $293.28.

General Dynamics Stock Up 2.0%

Shares of NYSE:GD traded up $5.72 during trading on Thursday, hitting $291.63. 1,715,285 shares of the company's stock traded hands, compared to its average volume of 1,395,822. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $276.24 and a 200-day moving average price of $266.91. 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 price-to-earnings-growth ratio of 1.92 and a beta of 0.46.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.06%. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the business's stock in a transaction dated Monday, June 16th. The shares were 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 of the company's stock, valued at $215,828,587.08. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

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.