Patten & Patten Inc. TN Has $588,000 Holdings in General Dynamics Corporation $GD

Patten & Patten Inc. TN cut its position in General Dynamics Corporation (NYSE:GD) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,016 shares of the aerospace company’s stock after selling 59 shares during the quarter. Patten & Patten Inc. TN’s holdings in General Dynamics were worth $588,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Retirement Guys Formula LLC bought a new stake in General Dynamics in the 1st quarter valued at $1,692,000. Advisory Resource Group boosted its holdings in General Dynamics by 7.1% in the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock valued at $5,234,000 after purchasing an additional 1,276 shares during the period. Matrix Asset Advisors Inc. NY boosted its holdings in General Dynamics by 31.6% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company’s stock valued at $9,171,000 after purchasing an additional 8,073 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in General Dynamics by 11.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock valued at $4,504,000 after purchasing an additional 1,704 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in General Dynamics by 1.5% in the 1st quarter. Pinnacle Financial Partners Inc now owns 63,228 shares of the aerospace company’s stock valued at $16,741,000 after purchasing an additional 915 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value 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. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,020 shares of company stock valued at $86,414,503. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wolfe Research raised their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a “market perform” rating in a report on Monday, July 14th. Wall Street Zen raised shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Finally, The Goldman Sachs Group raised their price objective on shares of General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a report on Friday, October 10th. One 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 given a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus price target of $327.44.

General Dynamics Trading Down 0.4%

Shares of GD stock opened at $330.63 on Friday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $347.37. The company has a market capitalization of $88.94 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.04 and a beta of 0.47. The firm has a 50-day moving average price of $326.51 and a 200 day moving average price of $298.49. 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 announced its quarterly 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. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the firm posted $3.26 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

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.