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

Envestnet Asset Management Inc. lifted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 877,941 shares of the aerospace company's stock after buying an additional 2,042 shares during the period. Envestnet Asset Management Inc. owned approximately 0.33% of General Dynamics worth $239,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC increased its holdings in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in General Dynamics in the 1st quarter valued at $26,000. Copia Wealth Management acquired a new stake in General Dynamics in the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics in the 1st quarter valued at $27,000. Finally, Hoey Investments Inc. acquired a new stake in General Dynamics in the 4th quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.1%

General Dynamics stock traded up $3.38 during midday trading on Thursday, reaching $303.34. The stock had a trading volume of 1,362,782 shares, compared to its average volume of 1,399,515. The firm's fifty day simple moving average is $280.27 and its two-hundred day simple moving average is $268.78. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.02 and a beta of 0.46.

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

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.98%. General Dynamics's dividend payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GD. Morgan Stanley lowered their price target on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the company a "hold" rating in a research report on Wednesday. Argus set a $295.00 price objective on shares of General Dynamics in a research report on Tuesday, May 6th. Finally, Cowen reissued a "buy" rating on shares of General Dynamics in a research report 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $294.47.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

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.