McKinley Carter Wealth Services Inc. boosted its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 141.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,856 shares of the aerospace company’s stock after purchasing an additional 11,621 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in General Dynamics were worth $6,685,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its position in General Dynamics by 14.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,291 shares of the aerospace company’s stock valued at $3,801,000 after purchasing an additional 1,384 shares during the period. Stronghold Wealth Management L.L.C. bought a new position in General Dynamics during the 4th quarter valued at $264,000. CDM Financial Counseling Services Inc. bought a new position in General Dynamics during the 4th quarter valued at $251,000. TD Private Client Wealth LLC lifted its stake in General Dynamics by 30.4% during the 4th quarter. TD Private Client Wealth LLC now owns 5,064 shares of the aerospace company’s stock valued at $1,705,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Dougherty & Associates LLC bought a new position in General Dynamics during the 4th quarter valued at $1,007,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
General Dynamics Trading Up 2.6%
Shares of General Dynamics stock opened at $343.25 on Tuesday. General Dynamics Corporation has a 52-week low of $268.10 and a 52-week high of $369.70. The stock’s 50-day simple moving average is $343.23 and its 200 day simple moving average is $346.60. The stock has a market capitalization of $92.82 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.07 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.
General Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. General Dynamics’s payout ratio is presently 40.03%.
Analyst Upgrades and Downgrades
GD has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research note on Tuesday, April 21st. Citigroup dropped their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group dropped their price objective on General Dynamics from $385.00 to $371.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $387.40.
View Our Latest Research Report on General Dynamics
Insider Transactions at General Dynamics
In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is owned by corporate insiders.
General Dynamics Company Profile
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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