Mattern Wealth Management LLC Sells 299 Shares of General Dynamics Corporation $GD

Mattern Wealth Management LLC cut its position in shares of General Dynamics Corporation (NYSE:GD) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,851 shares of the aerospace company’s stock after selling 299 shares during the period. Mattern Wealth Management LLC’s holdings in General Dynamics were worth $832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC lifted its holdings in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new stake in General Dynamics during the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics during the first quarter valued at approximately $27,000. Quarry LP raised its holdings in shares of General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after buying an additional 94 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its position in shares of General Dynamics by 80.0% during the 1st quarter. Perkins Coie Trust Co now owns 117 shares of the aerospace company’s stock worth $32,000 after buying an additional 52 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GD shares. Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. UBS Group upped their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. TD Cowen lifted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Citigroup increased their price target on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $315.78.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $332.21 on Tuesday. 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 Corporation has a 1-year low of $239.20 and a 1-year high of $337.52. The stock has a market capitalization of $89.36 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.03 and a beta of 0.50. The business has a 50-day moving average price of $319.43 and a two-hundred day moving average price of $292.41.

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 analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend payout ratio is 40.27%.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 over the last three months. Insiders own 1.50% of the company’s stock.

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.