McKinley Carter Wealth Services Inc. cut its holdings in General Dynamics Co. (NYSE:GD) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,770 shares of the aerospace company’s stock after selling 204 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in General Dynamics were worth $867,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of GD. Archford Capital Strategies LLC increased its position in shares of General Dynamics by 3.4% during the second quarter. Archford Capital Strategies LLC now owns 1,696 shares of the aerospace company’s stock valued at $308,000 after buying an additional 56 shares during the period. Signaturefd LLC grew its holdings in General Dynamics by 1.7% in the second quarter. Signaturefd LLC now owns 3,443 shares of the aerospace company’s stock worth $626,000 after purchasing an additional 59 shares during the period. Capital Investment Advisory Services LLC grew its holdings in General Dynamics by 10.2% in the first quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 61 shares during the period. National Asset Management Inc. grew its holdings in General Dynamics by 2.1% in the first quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 63 shares during the period. Finally, Bedel Financial Consulting Inc. grew its holdings in General Dynamics by 3.6% in the second quarter. Bedel Financial Consulting Inc. now owns 1,886 shares of the aerospace company’s stock worth $343,000 after purchasing an additional 65 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.
GD has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group upped their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Cowen reiterated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. Finally, Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Sunday, May 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $191.47.
General Dynamics stock traded up $2.13 during midday trading on Friday, reaching $184.35. 1,440,200 shares of the company traded hands, compared to its average volume of 1,049,674. The firm has a market capitalization of $52.63 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The business has a 50 day moving average of $183.82 and a two-hundred day moving average of $174.41. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $207.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.09. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 earnings per share. As a group, equities analysts forecast that General Dynamics Co. will post 11.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
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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