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% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,088 shares of the aerospace company’s stock after acquiring an additional 2,444 shares during the quarter. 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 hedge funds have also added to or reduced their stakes in GD. Nuveen LLC bought a new stake in General Dynamics in the first quarter worth $272,464,000. Ameriprise Financial Inc. boosted its holdings in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after acquiring an additional 709,782 shares in the last quarter. Deutsche Bank AG boosted its holdings in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after acquiring an additional 690,349 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after purchasing an additional 256,687 shares during the last quarter. Finally, Aurora Private Wealth Inc. raised its stake in shares of General Dynamics by 25,390.6% in the first quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company’s stock worth $55,516,000 after purchasing an additional 202,871 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock valued at $86,414,503 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GD. JPMorgan Chase & Co. boosted their price target on General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a research note on Wednesday. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $319.00.

General Dynamics Stock Down 2.8%

Shares of GD opened at $333.03 on Friday. The business’s 50 day moving average is $324.93 and its 200 day moving average is $296.94. The company has a market capitalization of $89.58 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.47. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating 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%.The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio is presently 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.