Oak Grove Capital LLC Reduces Position in General Dynamics Co. (GD)

Oak Grove Capital LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 5.9% in the 4th quarter, HoldingsChannel reports. The firm owned 4,795 shares of the aerospace company’s stock after selling 300 shares during the period. Oak Grove Capital LLC’s holdings in General Dynamics were worth $754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in General Dynamics by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 1,914,278 shares of the aerospace company’s stock worth $391,891,000 after buying an additional 29,753 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in General Dynamics by 256.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 7,364 shares of the aerospace company’s stock worth $1,508,000 after buying an additional 5,298 shares during the last quarter. Schroder Investment Management Group boosted its stake in General Dynamics by 8.2% during the third quarter. Schroder Investment Management Group now owns 183,536 shares of the aerospace company’s stock worth $37,574,000 after buying an additional 13,961 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of General Dynamics by 15.7% in the 3rd quarter. D.A. Davidson & CO. now owns 34,224 shares of the aerospace company’s stock valued at $7,007,000 after purchasing an additional 4,648 shares during the last quarter. Finally, Vaughan David Investments LLC IL lifted its stake in shares of General Dynamics by 0.3% in the 3rd quarter. Vaughan David Investments LLC IL now owns 146,093 shares of the aerospace company’s stock valued at $29,908,000 after purchasing an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

GD traded up $1.01 during mid-day trading on Monday, hitting $166.86. 5,356 shares of the stock were exchanged, compared to its average volume of 1,435,252. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $229.74. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $47.89 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.54 and a beta of 1.13.



General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.09. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the prior year, the business earned $2.50 EPS. General Dynamics’s revenue was up 25.4% on a year-over-year basis. On average, research analysts forecast that General Dynamics Co. will post 11.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.02 per share. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, April 11th. This represents a $4.08 annualized dividend and a yield of 2.45%. General Dynamics’s dividend payout ratio is 32.57%.

In other General Dynamics news, VP Christopher J. Brady sold 2,327 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $171.23, for a total transaction of $398,452.21. Following the sale, the vice president now owns 5,134 shares in the company, valued at approximately $879,094.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lester L. Lyles sold 4,580 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $172.42, for a total value of $789,683.60. Following the sale, the director now owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,547 shares of company stock worth $3,609,299. 6.90% of the stock is owned by company insiders.

Several equities analysts have recently commented on GD shares. Barclays decreased their price target on General Dynamics from $256.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 4th. Jefferies Financial Group lowered General Dynamics from a “buy” rating to a “hold” rating and decreased their price target for the company from $197.00 to $164.00 in a research note on Tuesday, January 8th. FIG Partners raised General Dynamics to an “add” rating in a research note on Tuesday, January 8th. Susquehanna Bancshares started coverage on General Dynamics in a research note on Thursday, January 10th. They issued a “neutral” rating and a $175.00 price target on the stock. Finally, Citigroup decreased their price target on General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and an average target price of $207.88.

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General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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