Matrix Asset Advisors Inc. NY Buys 123 Shares of General Dynamics Co. (NYSE:GD)

Matrix Asset Advisors Inc. NY boosted its stake in General Dynamics Co. (NYSE:GD) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,571 shares of the aerospace company’s stock after buying an additional 123 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in General Dynamics were worth $6,738,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GD. MFA Wealth Advisors LLC raised its holdings in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC bought a new stake in General Dynamics in the 3rd quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the 4th quarter valued at about $28,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC purchased a new position in shares of General Dynamics in the 3rd quarter worth approximately $34,000. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. Finally, Susquehanna dropped their target price on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $304.88.

General Dynamics Stock Up 1.2 %

Shares of NYSE GD opened at $269.64 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $74.14 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a 52 week low of $257.26 and a 52 week high of $316.90. The business has a 50-day simple moving average of $269.27 and a two-hundred day simple moving average of $287.74.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

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.