McKinley Carter Wealth Services Inc. Has $6.69 Million Stock Position in General Dynamics Corporation $GD

Key Points

• McKinley Carter Wealth Services increased its General Dynamics stake by 141.1% in the fourth quarter, ending with 19,856 shares valued at about $6.69 million.
• General Dynamics posted a strong quarterly report, with EPS of $4.10 and revenue of $13.48 billion, both beating analyst estimates; revenue also rose 10.3% year over year.
• The company raised its quarterly dividend to $1.59 per share from $1.50, while analysts currently have a consensus rating of Moderate Buy with an average price target of $387.40.

McKinley Carter Wealth Services Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 141.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,856 shares of the aerospace company's stock after buying an additional 11,621 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in General Dynamics were worth $6,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Brighton Jones LLC increased its holdings in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after buying an additional 417 shares during the last quarter. Acadian Asset Management LLC increased its holdings in General Dynamics by 140.2% during the first quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company's stock worth $938,000 after buying an additional 2,011 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in General Dynamics during the second quarter worth $240,000. Flow Traders U.S. LLC acquired a new position in General Dynamics during the second quarter worth $352,000. Finally, Jump Financial LLC acquired a new position in General Dynamics during the second quarter worth $1,284,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president owned 44,767 shares of the company's stock, valued at $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 119,600 shares of company stock valued at $41,650,580 over the last quarter. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company began coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price objective on the stock. UBS Group decreased their price objective on shares of General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Argus upped their price objective on shares of General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $387.40.

General Dynamics Trading Up 2.6%

GD opened at $343.25 on Tuesday. General Dynamics Corporation has a twelve month low of $268.10 and a twelve month high of $369.70. The company has a 50-day simple moving average of $343.23 and a 200 day simple moving average of $346.60. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $92.82 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.07 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same quarter in the prior year, the business posted $3.66 earnings per share. General Dynamics's revenue was up 10.3% compared to the same quarter last year. Analysts predict that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a $1.59 dividend. This is an increase from General Dynamics's previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, April 10th. General Dynamics's payout ratio is currently 40.03%.

About General Dynamics

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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