Oppenheimer Asset Management Inc. Trims Stock Holdings in General Dynamics Corporation $GD

Oppenheimer Asset Management Inc. decreased its holdings in General Dynamics Corporation (NYSE:GD) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,896 shares of the aerospace company’s stock after selling 136 shares during the period. Oppenheimer Asset Management Inc.’s holdings in General Dynamics were worth $36,136,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GD. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Dynamics in the first quarter worth about $27,000. Quarry LP grew its stake in General Dynamics by 783.3% during the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 94 shares in the last quarter. Abound Financial LLC purchased a new position in General Dynamics during the first quarter valued at approximately $32,000. Nova Wealth Management Inc. purchased a new position in General Dynamics during the first quarter valued at approximately $33,000. Finally, Harbor Asset Planning Inc. purchased a new position in General Dynamics during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 2.6%

Shares of GD opened at $350.22 on Friday. The firm has a 50 day moving average price of $329.49 and a 200-day moving average price of $302.06. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a market cap of $94.20 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.16 and a beta of 0.47.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same period in the prior year, the business posted $3.35 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio is currently 40.27%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GD. The Goldman Sachs Group boosted their price objective on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Seaport Res Ptn upgraded shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Finally, Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus price target of $327.44.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Malcolm sold 3,220 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the transaction, the director directly owned 10,186 shares in the company, valued at approximately $3,355,777.70. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 242,460 shares of company stock worth $76,192,291 over the last ninety days. Insiders own 1.50% of the company’s stock.

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.