Matrix Asset Advisors Inc. NY Has $6.74 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Matrix Asset Advisors Inc. NY lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,571 shares of the aerospace company’s stock after buying an additional 123 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in General Dynamics were worth $6,738,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. MFA Wealth Advisors LLC lifted 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 worth $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC acquired a new position in General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $28,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth $30,000. Finally, True Wealth Design LLC bought a new position in shares of General Dynamics in the 3rd quarter valued at $34,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.2 %

NYSE:GD opened at $269.64 on Tuesday. General Dynamics Co. has a 12 month low of $257.26 and a 12 month high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.43 and a beta of 0.61. The firm has a fifty 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 given a $1.42 dividend. 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 payout ratio is 43.26%.

General Dynamics declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GD has been the topic of a number of research reports. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna reduced their price objective 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. Finally, Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $304.88.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by company insiders.

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.