Oregon Public Employees Retirement Fund Boosts Holdings in General Dynamics Co. (NYSE:GD)

Oregon Public Employees Retirement Fund boosted its position in General Dynamics Co. (NYSE:GD) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,135 shares of the aerospace company’s stock after buying an additional 101 shares during the period. Oregon Public Employees Retirement Fund’s holdings in General Dynamics were worth $5,832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after acquiring an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares during the period. Olstein Capital Management L.P. lifted its holdings in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after acquiring an additional 4,000 shares during the period. Kentucky Trust Co acquired a new stake in General Dynamics in the fourth quarter valued at $607,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.4 %

Shares of GD stock opened at $248.92 on Thursday. The firm has a 50-day moving average price of $258.71 and a 200 day moving average price of $281.65. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a market capitalization of $67.30 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.69 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 (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.28%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 41.64%.

General Dynamics announced that its board has approved a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Royal Bank of Canada reduced their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. TD Cowen cut their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. UBS Group cut their price target on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price target on General Dynamics from $276.00 to $244.00 and set an “equal weight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $296.71.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics 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 owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

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.