Envestnet Asset Management Inc. Buys 2,042 Shares of General Dynamics Corporation (NYSE:GD)

Envestnet Asset Management Inc. raised its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 877,941 shares of the aerospace company's stock after purchasing an additional 2,042 shares during the period. Envestnet Asset Management Inc. owned approximately 0.33% of General Dynamics worth $239,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after buying an additional 706,317 shares during the last quarter. Capital Research Global Investors grew its stake in shares of General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after buying an additional 463,497 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Dynamics by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock valued at $1,496,939,000 after buying an additional 131,268 shares during the last quarter. Sanders Capital LLC grew its stake in shares of General Dynamics by 0.8% during the fourth quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after buying an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of General Dynamics by 5.2% during the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after buying an additional 145,978 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup cut their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group raised their target price on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. TD Securities raised their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Wells Fargo & Company cut their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and a consensus price target of $294.47.

General Dynamics Stock Down 0.4%

Shares of GD stock traded down $1.18 during trading hours on Friday, hitting $302.20. 952,502 shares of the company's stock traded hands, compared to its average volume of 1,503,829. The stock's fifty day simple moving average is $280.90 and its two-hundred day simple moving average is $269.04. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The stock has a market cap of $81.11 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.02 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same period last year, the business earned $2.88 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. On average, analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.99%. General Dynamics's payout ratio is currently 41.61%.

General Dynamics Profile

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.