Oakworth Capital Inc. Sells 698 Shares of General Dynamics Co. (NYSE:GD)

Oakworth Capital Inc. trimmed its stake in General Dynamics Co. (NYSE:GD) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 54,718 shares of the aerospace company’s stock after selling 698 shares during the quarter. General Dynamics comprises 1.1% of Oakworth Capital Inc.’s holdings, making the stock its 22nd biggest position. Oakworth Capital Inc.’s holdings in General Dynamics were worth $16,536,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after buying an additional 47,915 shares during the last quarter. Boston Partners lifted its stake in shares of General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after buying an additional 23,304 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $308.22 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a 50-day simple moving average of $299.68 and a two-hundred day simple moving average of $294.41. The firm has a market capitalization of $84.56 billion, a PE ratio of 25.14, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.85.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. Analysts forecast that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GD. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.18.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Company 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.