Oppenheimer Asset Management Inc. Raises Stock Position in General Dynamics Co. (NYSE:GD)

Oppenheimer Asset Management Inc. grew its stake in General Dynamics Co. (NYSE:GD - Free Report) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,095 shares of the aerospace company's stock after buying an additional 12,102 shares during the period. Oppenheimer Asset Management Inc.'s holdings in General Dynamics were worth $35,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the first quarter worth $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the first quarter worth $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the second quarter worth $29,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of NYSE:GD traded up $4.13 during midday trading on Friday, hitting $304.80. The company's stock had a trading volume of 797,557 shares, compared to its average volume of 1,065,587. The business's 50 day simple moving average is $292.48 and its 200 day simple moving average is $289.98. 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 company has a market cap of $83.63 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $306.51.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analysts' expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business's quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. On average, analysts forecast that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics's dividend payout ratio (DPR) is presently 46.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GD. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a "buy" rating and a $345.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of General Dynamics in a research report on Monday, July 29th. Morgan Stanley upgraded shares of General Dynamics from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays raised their price target on shares of General Dynamics from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Finally, Sanford C. Bernstein raised their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a "market perform" rating in a research report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $315.06.

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.