Kennondale Capital Management LLC Invests $1.13 Million in General Dynamics Co. (NYSE:GD)

Kennondale Capital Management LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,280 shares of the aerospace company’s stock, valued at approximately $1,128,000. General Dynamics comprises 0.9% of Kennondale Capital Management LLC’s holdings, making the stock its 29th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in General Dynamics by 15.3% during the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after purchasing an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares in the last quarter. Kentucky Trust Co acquired a new stake in General Dynamics during the fourth quarter worth approximately $607,000. Hickory Point Bank & Trust acquired a new stake in General Dynamics during the fourth quarter worth approximately $692,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after purchasing an additional 107,095 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 1.3 %

Shares of NYSE GD opened at $265.33 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The business has a 50-day moving average price of $258.04 and a two-hundred day moving average price of $278.54. The firm has a market capitalization of $71.73 billion, a PE ratio of 19.45, a PEG ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. As a group, analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a $1.50 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio is presently 43.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on GD. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group reduced their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Barclays dropped their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average price target of $297.71.

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.