Envestnet Portfolio Solutions Inc. Acquires 1,129 Shares of General Dynamics Co. (NYSE:GD)

Envestnet Portfolio Solutions Inc. increased its holdings in General Dynamics Co. (NYSE:GD) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,623 shares of the aerospace company’s stock after buying an additional 1,129 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in General Dynamics were worth $6,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth $25,000. Richardson Financial Services Inc. bought a new stake in General Dynamics in the 4th quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics in the 1st quarter worth $29,000. Finally, Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the sale, the director now directly owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock valued at $34,391,642 over the last three months. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada cut their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Susquehanna lifted their target price on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Finally, Sanford C. Bernstein lifted their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.56.

General Dynamics Stock Down 0.1 %

General Dynamics stock traded down $0.16 during trading hours on Friday, hitting $283.99. The stock had a trading volume of 1,072,014 shares, compared to its average volume of 1,054,441. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $77.92 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.60. General Dynamics Co. has a 12-month low of $212.58 and a 12-month high of $302.75. The stock’s 50-day moving average price is $293.62 and its 200-day moving average price is $279.64.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $2.64 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

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.