Matrix Asset Advisors Inc. NY Boosts Stake in General Dynamics Co. (NYSE:GD)

Matrix Asset Advisors Inc. NY raised its holdings in General Dynamics Co. (NYSE:GD) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,448 shares of the aerospace company’s stock after acquiring an additional 88 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in General Dynamics were worth $7,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Brown Miller Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.7% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 5,615 shares of the aerospace company’s stock worth $1,696,000 after acquiring an additional 95 shares during the last quarter. Ritholtz Wealth Management raised its position in General Dynamics by 4.7% during the third quarter. Ritholtz Wealth Management now owns 11,026 shares of the aerospace company’s stock valued at $3,332,000 after purchasing an additional 497 shares in the last quarter. Silverlake Wealth Management LLC lifted its stake in General Dynamics by 23.4% during the third quarter. Silverlake Wealth Management LLC now owns 1,784 shares of the aerospace company’s stock worth $539,000 after purchasing an additional 338 shares during the last quarter. Perfromance Wealth Partners LLC boosted its holdings in shares of General Dynamics by 22.4% in the 3rd quarter. Perfromance Wealth Partners LLC now owns 1,832 shares of the aerospace company’s stock worth $554,000 after purchasing an additional 335 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its position in shares of General Dynamics by 3.9% during the 3rd quarter. Fiduciary Financial Group LLC now owns 1,206 shares of the aerospace company’s stock valued at $358,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $319.06.

General Dynamics Price Performance

GD stock opened at $299.44 on Friday. The firm has a 50-day moving average of $297.70 and a 200 day moving average of $293.62. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company has a market cap of $82.28 billion, a P/E ratio of 23.36, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.70 EPS. On average, sell-side analysts forecast that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. General Dynamics’s payout ratio is 44.31%.

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.