KG&L Capital Management LLC Invests $572,000 in General Dynamics Corporation (NYSE:GD)

KG&L Capital Management LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,099 shares of the aerospace company's stock, valued at approximately $572,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC lifted its position in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $26,000. Finally, Copia Wealth Management acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $27,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

GD traded down $0.56 on Friday, reaching $290.83. The company had a trading volume of 2,268,179 shares, compared to its average volume of 1,397,487. The business has a 50 day simple moving average of $276.55 and a 200 day simple moving average of $267.09. The company has a market cap of $78.06 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.96 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $2.88 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is currently 41.61%.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the transaction, the chief executive officer now owns 769,607 shares in the company, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday. TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Susquehanna boosted their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of "Hold" and a consensus target price of $290.24.

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.