7,062 Shares in General Dynamics Corporation $GD Bought by Harvest Investment Advisors LLC

Harvest Investment Advisors LLC purchased a new position in General Dynamics Corporation (NYSE:GD) in the fourth quarter, Holdings Channel.com reports. The fund purchased 7,062 shares of the aerospace company’s stock, valued at approximately $2,378,000. General Dynamics comprises 1.3% of Harvest Investment Advisors LLC’s portfolio, making the stock its 15th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. AQR Capital Management LLC lifted its stake in General Dynamics by 118.3% in the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after acquiring an additional 901,679 shares during the period. Northern Trust Corp lifted its stake in General Dynamics by 35.0% in the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after acquiring an additional 863,392 shares during the period. Vanguard Group Inc. lifted its stake in General Dynamics by 2.9% in the third quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock worth $8,265,349,000 after acquiring an additional 677,665 shares during the period. Balyasny Asset Management L.P. lifted its stake in General Dynamics by 831.1% in the third quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock worth $251,405,000 after acquiring an additional 658,081 shares during the period. Finally, SG Americas Securities LLC lifted its stake in General Dynamics by 6,680.8% in the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock worth $199,130,000 after acquiring an additional 582,765 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. Wells Fargo & Company assumed coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. Citigroup lowered their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Weiss Ratings lowered General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. Finally, DA Davidson lowered their price objective on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $388.40.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $364.45 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $98.56 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.23 and a beta of 0.34. The business has a fifty day simple moving average of $340.82 and a two-hundred day simple moving average of $346.95. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same period last year, the company earned $3.66 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.