Harbour Investments Inc. Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Harbour Investments Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,421 shares of the aerospace company’s stock after purchasing an additional 163 shares during the period. Harbour Investments Inc.’s holdings in General Dynamics were worth $901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GD. Financial Life Planners purchased a new position in General Dynamics in the fourth quarter worth $25,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $28,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

General Dynamics Price Performance

GD opened at $268.11 on Thursday. The stock has a 50-day moving average price of $258.34 and a 200-day moving average price of $278.25. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $72.48 billion, a P/E ratio of 19.66, a PEG ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics announced that its board has authorized a stock repurchase program 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 programs are often an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.24%. General Dynamics’s dividend payout ratio is currently 43.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GD shares. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada dropped their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Finally, UBS Group decreased their price objective on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Dynamics has an average rating of “Hold” and an average price target of $297.71.

General Dynamics Company 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.