Matrix Asset Advisors Inc. NY Buys 2,444 Shares of General Dynamics Corporation $GD

Matrix Asset Advisors Inc. NY grew its stake in General Dynamics Corporation (NYSE:GD) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 36,088 shares of the aerospace company’s stock after purchasing an additional 2,444 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in General Dynamics were worth $10,525,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. 1858 Wealth Management LLC lifted its stake in shares of General Dynamics by 1.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock valued at $950,000 after purchasing an additional 32 shares during the last quarter. Salvus Wealth Management LLC lifted its stake in shares of General Dynamics by 2.9% in the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after purchasing an additional 36 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock valued at $2,161,000 after purchasing an additional 37 shares during the last quarter. Sharpepoint LLC lifted its stake in shares of General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock valued at $249,000 after purchasing an additional 37 shares during the last quarter. Finally, United Asset Strategies Inc. lifted its stake in shares of General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company’s stock valued at $856,000 after purchasing an additional 37 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the transaction, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. This represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 275,020 shares of company stock worth $86,414,503. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday. Finally, Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price on the stock in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $319.00.

General Dynamics Trading Down 2.8%

GD opened at $333.03 on Friday. The stock’s fifty day moving average is $324.93 and its two-hundred day moving average is $296.94. The company has a market capitalization of $89.58 billion, a P/E ratio of 22.35, a PEG ratio of 2.04 and a beta of 0.47. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $347.37. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

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.