McKinley Carter Wealth Services Inc. lifted its position in General Dynamics Co. (NYSE:GD) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,974 shares of the aerospace company’s stock after purchasing an additional 567 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in General Dynamics were worth $842,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc boosted its stake in shares of General Dynamics by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock worth $4,279,866,000 after acquiring an additional 357,032 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in General Dynamics by 14,601.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 9,516,460 shares during the last quarter. Geode Capital Management LLC lifted its holdings in General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares during the last quarter. Iridian Asset Management LLC CT lifted its holdings in General Dynamics by 3.8% during the 4th quarter. Iridian Asset Management LLC CT now owns 1,198,828 shares of the aerospace company’s stock worth $188,468,000 after purchasing an additional 43,375 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in General Dynamics by 35.1% during the 4th quarter. California Public Employees Retirement System now owns 1,172,516 shares of the aerospace company’s stock worth $184,331,000 after purchasing an additional 304,454 shares during the last quarter. Institutional investors and hedge funds own 86.48% of the company’s stock.
A number of research firms have commented on GD. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Zacks Investment Research downgraded General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Cowen reaffirmed a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a report on Wednesday, April 24th. Finally, Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $197.22.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The business had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts anticipate that General Dynamics Co. will post 11.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a dividend yield of 2.40%. General Dynamics’s payout ratio is 35.73%.
In other news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the transaction, the executive vice president now directly owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is currently owned by company insiders.
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About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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