Oakworth Capital Inc. Trims Stake in General Dynamics Co. (NYSE:GD)

Oakworth Capital Inc. reduced its position in shares of General Dynamics Co. (NYSE:GD) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,858 shares of the aerospace company’s stock after selling 377 shares during the quarter. General Dynamics comprises about 1.2% of Oakworth Capital Inc.’s portfolio, making the stock its 21st biggest position. Oakworth Capital Inc.’s holdings in General Dynamics were worth $14,505,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Certified Advisory Corp purchased a new position in General Dynamics during the 1st quarter worth $25,000. Live Oak Investment Partners purchased a new position in shares of General Dynamics in the 4th quarter valued at $30,000. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics in the 3rd quarter valued at $27,000. Impact Partnership Wealth LLC increased its holdings in shares of General Dynamics by 411.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 107 shares during the period. Finally, Tyler Stone Wealth Management purchased a new position in shares of General Dynamics in the 2nd quarter valued at $30,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the sale, the executive vice president now owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the topic of a number of analyst reports. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Susquehanna raised their price objective on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $283.80.

General Dynamics Price Performance

NYSE GD traded down $0.53 during trading hours on Wednesday, reaching $284.77. The company’s stock had a trading volume of 412,007 shares, compared to its average volume of 1,070,377. The firm has a market capitalization of $78.13 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.81 and a beta of 0.68. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The company’s 50-day moving average is $278.07 and its two-hundred day moving average is $258.67.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same period in the previous year, the company earned $3.58 EPS. General Dynamics’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is presently 47.25%.

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.