Oakworth Capital Inc. Raises Stock Position in General Dynamics Co. (NYSE:GD)

Oakworth Capital Inc. raised its stake in shares of General Dynamics Co. (NYSE:GD) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,657 shares of the aerospace company’s stock after purchasing an additional 939 shares during the quarter. General Dynamics makes up about 1.0% of Oakworth Capital Inc.’s holdings, making the stock its 23rd biggest holding. Oakworth Capital Inc.’s holdings in General Dynamics were worth $14,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC boosted its stake in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Financial Life Planners bought a new position in General Dynamics during the 4th quarter valued at about $25,000. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $258.36 on Thursday. The firm has a market cap of $71.04 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.46 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $247.01 and a 12 month high of $316.90. The stock’s fifty day moving average price is $265.60 and its 200-day moving average price is $286.09.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities research analysts expect that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics announced that its board has approved a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.20%. General Dynamics’s dividend payout ratio (DPR) is presently 41.64%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Citigroup increased their price objective on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada lowered their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $300.06.

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.