Mattern Wealth Management LLC Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Mattern Wealth Management LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,291 shares of the aerospace company’s stock after selling 816 shares during the period. Mattern Wealth Management LLC’s holdings in General Dynamics were worth $2,448,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GD. MFA Wealth Advisors LLC increased its stake in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the period. Hara Capital LLC acquired a new position in shares of General Dynamics during the 3rd quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $28,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at $30,000. Finally, True Wealth Design LLC acquired a new stake in shares of General Dynamics during the third quarter worth about $34,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GD. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. Susquehanna decreased their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein cut their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and an average target price of $304.88.

General Dynamics Stock Up 1.2 %

Shares of NYSE GD opened at $269.64 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a 1 year low of $257.26 and a 1 year high of $316.90. The stock’s 50-day simple moving average is $269.27 and its 200-day simple moving average is $287.74. The firm has a market cap of $74.14 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.43 and a beta of 0.61.

General Dynamics announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

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

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.