Kingsman Wealth Management Inc. Purchases New Position in General Dynamics Corporation (NYSE:GD)

Kingsman Wealth Management Inc. acquired a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,005 shares of the aerospace company's stock, valued at approximately $274,000.

Other institutional investors also recently modified their holdings of the company. Retirement Guys Formula LLC bought a new stake in shares of General Dynamics in the first quarter worth $1,692,000. Advisory Resource Group grew its stake in shares of General Dynamics by 7.1% in the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after purchasing an additional 1,276 shares during the last quarter. Mission Wealth Management LP grew its stake in shares of General Dynamics by 18.9% in the first quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after purchasing an additional 2,568 shares during the last quarter. Virtu Financial LLC grew its stake in shares of General Dynamics by 59.1% in the fourth quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company's stock worth $772,000 after purchasing an additional 1,088 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY lifted its holdings in General Dynamics by 31.6% in the first quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock valued at $9,171,000 after buying an additional 8,073 shares during the period. Institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Susquehanna boosted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday. Citigroup boosted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a report on Thursday. Finally, Cowen restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of "Hold" and a consensus target price of $309.17.

General Dynamics Stock Down 0.1%

GD stock traded down $0.27 during trading on Thursday, reaching $316.68. The stock had a trading volume of 656,430 shares, compared to its average volume of 1,492,766. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The company's 50 day moving average is $286.29 and its two-hundred day moving average is $271.39. The company has a market capitalization of $85.00 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the firm earned $3.26 EPS. The company's revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the company'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 transaction of $50,629,589.73. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

General Dynamics 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.