Matrix Asset Advisors Inc. NY Buys 8,073 Shares of General Dynamics Corporation (NYSE:GD)

Matrix Asset Advisors Inc. NY raised its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,644 shares of the aerospace company's stock after acquiring an additional 8,073 shares during the quarter. Matrix Asset Advisors Inc. NY's holdings in General Dynamics were worth $9,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. Rialto Wealth Management LLC grew its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at $26,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $26,000. Finally, Copia Wealth Management purchased a new position in shares of General Dynamics during the 4th quarter valued at $27,000. Institutional investors own 86.14% of the company's stock.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent analyst reports. TD Securities boosted their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Susquehanna upped their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Thursday, April 24th. UBS Group upped their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley cut their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and a consensus price target of $293.00.

General Dynamics Trading Down 0.0%

Shares of NYSE:GD traded down $0.07 during midday trading on Friday, hitting $278.46. 1,518,679 shares of the stock traded hands, compared to its average volume of 1,389,593. The stock has a market capitalization of $74.74 billion, a PE ratio of 19.31, a P/E/G ratio of 1.88 and a beta of 0.46. The business's 50 day moving average is $275.58 and its two-hundred day moving average is $266.45. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a one year low of $239.20 and a one year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 earnings per share. As a group, research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is 41.61%.

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.