Envestnet Asset Management Inc. Has $9.22 Million Position in General Dynamics (GD)

Envestnet Asset Management Inc. lowered its stake in shares of General Dynamics (NYSE:GD) by 36.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,248 shares of the aerospace company’s stock after selling 24,120 shares during the period. Envestnet Asset Management Inc.’s holdings in General Dynamics were worth $9,220,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in General Dynamics by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,670,214 shares of the aerospace company’s stock worth $3,391,556,000 after purchasing an additional 60,034 shares during the period. Geode Capital Management LLC raised its stake in General Dynamics by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 3,115,765 shares of the aerospace company’s stock worth $632,676,000 after purchasing an additional 57,738 shares during the period. Aristotle Capital Management LLC raised its stake in General Dynamics by 7.5% during the fourth quarter. Aristotle Capital Management LLC now owns 1,519,557 shares of the aerospace company’s stock worth $309,154,000 after purchasing an additional 106,068 shares during the period. Schwab Charles Investment Management Inc. raised its stake in General Dynamics by 2.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,013,051 shares of the aerospace company’s stock worth $223,783,000 after purchasing an additional 24,469 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in General Dynamics by 1.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 842,639 shares of the aerospace company’s stock worth $171,435,000 after purchasing an additional 14,520 shares during the period. 86.01% of the stock is currently owned by institutional investors.

In related news, Director Lester L. Lyles sold 5,210 shares of General Dynamics stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $220.73, for a total transaction of $1,150,003.30. Following the sale, the director now owns 12,537 shares of the company’s stock, valued at approximately $2,767,292.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Daniel Johnson sold 3,933 shares of General Dynamics stock in a transaction on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the sale, the insider now directly owns 66,363 shares in the company, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. Insiders have sold a total of 19,253 shares of company stock worth $4,322,831 in the last ninety days. 6.90% of the stock is currently owned by insiders.

GD has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of General Dynamics from $225.00 to $217.00 and set an “underweight” rating on the stock in a research note on Thursday, April 12th. Royal Bank of Canada set a $246.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Cowen reaffirmed a “buy” rating and set a $253.00 price target on shares of General Dynamics in a research note on Monday, April 9th. Zacks Investment Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Finally, Jefferies Group increased their price target on shares of General Dynamics to $247.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $242.72.

Shares of General Dynamics opened at $202.52 on Monday, Marketbeat.com reports. General Dynamics has a 52 week low of $191.00 and a 52 week high of $230.00. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $60.16 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 25th. The aerospace company reported $2.65 EPS for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.16. General Dynamics had a net margin of 9.49% and a return on equity of 26.83%. The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted $2.48 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. equities analysts expect that General Dynamics will post 11.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Friday, April 13th were paid a dividend of $0.93 per share. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $3.72 annualized dividend and a yield of 1.84%. General Dynamics’s payout ratio is 37.39%.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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