Harvest Investment Advisors LLC Takes Position in General Dynamics Corporation $GD

Key Points

• Harvest Investment Advisors LLC opened a new position in General Dynamics during the fourth quarter, buying 7,062 shares worth about $2.38 million. The stake represents 1.3% of the firm’s portfolio and is its 15th-largest holding.
• Other major institutions, including Vanguard, State Street, Geode Capital, and JPMorgan, also increased their General Dynamics holdings, and institutional investors now own 86.14% of the company.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts. The company also declared a $1.59 quarterly dividend and analysts currently view the stock as a Moderate Buy with a consensus target of $388.40.

Harvest Investment Advisors LLC acquired a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 investment portfolio, making the stock its 15th largest holding.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. State Street Corp increased its position in shares of General Dynamics by 2.7% in the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company's stock worth $3,812,058,000 after purchasing an additional 294,456 shares during the last quarter. Geode Capital Management LLC increased its position in shares of General Dynamics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company's stock worth $2,039,742,000 after purchasing an additional 195,604 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of General Dynamics by 2.2% in the fourth quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company's stock worth $1,786,786,000 after purchasing an additional 114,647 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of General Dynamics by 5.4% in the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company's stock worth $1,236,900,000 after purchasing an additional 187,435 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. Argus upped their price objective on shares of General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. Weiss Ratings cut shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 19th. Finally, Morgan Stanley increased their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $388.40.

General Dynamics Stock Performance

NYSE:GD opened at $364.45 on Wednesday. The firm has a market cap of $98.56 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34. General Dynamics Corporation has a fifty-two week low of $275.49 and a fifty-two week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The business has a 50 day moving average price of $340.82 and a 200-day moving average price of $346.95.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.66 earnings per share. Equities research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics's dividend payout ratio is 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.

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