Clear Harbor Asset Management LLC Invests $387,000 in General Dynamics Co. (NYSE:GD)

Clear Harbor Asset Management LLC bought a new stake in General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,467 shares of the aerospace company’s stock, valued at approximately $387,000.

A number of other institutional investors have also recently added to or reduced their stakes in GD. Wellington Management Group LLP grew its holdings in shares of General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock worth $4,292,851,000 after purchasing an additional 109,618 shares during the period. State Street Corp raised its holdings in General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after buying an additional 943,247 shares during the period. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after buying an additional 189,904 shares in the last quarter. Geode Capital Management LLC grew its stake in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after buying an additional 638,342 shares during the period. Finally, FMR LLC increased its position in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after acquiring an additional 24,464 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Citigroup boosted their price target on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna lowered their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $304.88.

General Dynamics Stock Up 1.7 %

Shares of General Dynamics stock opened at $271.30 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $271.92 and a 200 day moving average price of $288.09. General Dynamics Co. has a fifty-two week low of $247.88 and a fifty-two week high of $316.90. The firm has a market cap of $74.60 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.41 and a beta of 0.61.

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

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.