Harbor Investment Advisory LLC Sells 113 Shares of General Dynamics Co. (NYSE:GD)

Harbor Investment Advisory LLC decreased its stake in General Dynamics Co. (NYSE:GD) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,412 shares of the aerospace company’s stock after selling 113 shares during the period. Harbor Investment Advisory LLC’s holdings in General Dynamics were worth $635,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC raised its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the period. Hara Capital LLC bought a new stake in shares of General Dynamics in the third quarter valued at $26,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at $30,000. True Wealth Design LLC bought a new position in shares of General Dynamics during the 3rd quarter worth $34,000. Finally, Coston McIsaac & Partners raised its stake in General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GD. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Susquehanna dropped their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $304.88.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $271.30 on Wednesday. General Dynamics Co. has a one year low of $247.88 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market capitalization of $74.60 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.41 and a beta of 0.61. The company’s fifty day moving average price is $271.92 and its 200-day moving average price is $288.09.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that General Dynamics Co. will post 13.81 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.09%. General Dynamics’s dividend payout ratio is 43.26%.

General Dynamics announced that its board has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.