General Dynamics Co. (NYSE:GD) Position Raised by Harbour Investments Inc.

Harbour Investments Inc. increased its position in shares of General Dynamics Co. (NYSE:GD) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,258 shares of the aerospace company’s stock after purchasing an additional 534 shares during the period. Harbour Investments Inc.’s holdings in General Dynamics were worth $985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. Massachusetts Financial Services Co. MA increased its holdings in shares of General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares in the last quarter. Boston Partners increased its holdings in shares of General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after buying an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Sanford C. Bernstein cut their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Trading Down 6.9 %

Shares of NYSE:GD opened at $292.42 on Friday. The stock has a market capitalization of $80.41 billion, a PE ratio of 23.76, a P/E/G ratio of 1.89 and a beta of 0.61. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The firm has a fifty day moving average price of $302.64 and a 200 day moving average price of $296.23. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 earnings per share. Analysts expect that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

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.