Mattern Capital Management LLC Sells 160 Shares of General Dynamics Co. (NYSE:GD)

Mattern Capital Management LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 0.5% in the 3rd quarter, Holdings Channel reports. The firm owned 35,373 shares of the aerospace company’s stock after selling 160 shares during the quarter. General Dynamics accounts for 1.3% of Mattern Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Mattern Capital Management LLC’s holdings in General Dynamics were worth $10,690,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GD. International Assets Investment Management LLC raised its position in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after acquiring an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after acquiring an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 0.4 %

General Dynamics stock opened at $302.52 on Friday. The stock has a market cap of $83.13 billion, a P/E ratio of 23.60, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The firm’s fifty day moving average price is $300.40 and its 200-day moving average price is $294.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

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 the consensus estimate of $3.48 by ($0.13). The firm 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 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. Equities research analysts forecast that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s payout ratio is currently 44.31%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GD has been the subject of several research reports. Royal Bank of Canada raised their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $323.88.

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.