Mattern Wealth Management LLC Has $3.05 Million Holdings in General Dynamics Co. (NYSE:GD)

Mattern Wealth Management LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,107 shares of the aerospace company’s stock after buying an additional 125 shares during the quarter. Mattern Wealth Management LLC’s holdings in General Dynamics were worth $3,054,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kingsview Wealth Management LLC raised its holdings in shares of General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after purchasing an additional 6,858 shares during the period. Clearbridge Investments LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $493,000. Wealth Enhancement Advisory Services LLC raised its position in shares of General Dynamics by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock valued at $41,734,000 after buying an additional 3,531 shares in the last quarter. Cetera Investment Advisers raised its position in General Dynamics by 291.4% in the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares during the period. Finally, Peak Financial Advisors LLC purchased a new position in General Dynamics in the 3rd quarter worth $3,022,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GD has been the subject of a number of recent research reports. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Trading Down 0.8 %

NYSE:GD traded down $2.58 on Tuesday, reaching $305.50. 369,525 shares of the company’s stock were exchanged, compared to its average volume of 1,087,134. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.85. The firm has a market capitalization of $83.82 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $299.68 and a 200-day moving average of $294.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. As a group, analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics 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.