Mattern Wealth Management LLC Sells 6,141 Shares of General Dynamics Corporation (NYSE:GD)

Mattern Wealth Management LLC lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 66.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,150 shares of the aerospace company's stock after selling 6,141 shares during the period. Mattern Wealth Management LLC's holdings in General Dynamics were worth $859,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC lifted its holdings in 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 during the last quarter. Whipplewood Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $26,000. Finally, Copia Wealth Management bought a new stake in shares of General Dynamics during the 4th quarter worth about $27,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.4%

Shares of GD opened at $281.30 on Wednesday. The firm has a 50 day simple moving average of $275.74 and a two-hundred day simple moving average of $266.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. General Dynamics Corporation has a one year low of $239.20 and a one year high of $316.90. The company has a market cap of $75.50 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.90 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. General Dynamics's revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 EPS. Research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics's payout ratio is currently 41.61%.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer now directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GD. Argus set a $295.00 price objective on shares of General Dynamics in a research report on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group increased their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $293.00.

About General Dynamics

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.

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