Envestnet Portfolio Solutions Inc. Sells 1,567 Shares of General Dynamics Corporation $GD

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its holdings in General Dynamics by 13.2%, selling 1,567 shares and leaving it with 10,326 shares valued at approximately $3,012,000.
• Analysts maintain a generally positive outlook on General Dynamics, with a consensus target price of $327.44, as firms like UBS and Susquehanna have recently updated their price targets upward.
• General Dynamics reported better-than-expected earnings of $3.74 per share for the last quarter, surpassing the consensus estimate and showing an 8.9% year-over-year revenue increase.

Envestnet Portfolio Solutions Inc. reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,326 shares of the aerospace company's stock after selling 1,567 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in General Dynamics were worth $3,012,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GD. Nuveen LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at about $272,464,000. Ameriprise Financial Inc. lifted its position in shares of General Dynamics by 34.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after buying an additional 709,782 shares in the last quarter. Deutsche Bank AG lifted its position in shares of General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after buying an additional 690,349 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares in the last quarter. Finally, Aurora Private Wealth Inc. lifted its position in shares of General Dynamics by 25,390.6% during the 1st quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company's stock valued at $55,516,000 after buying an additional 202,871 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GD has been the topic of a number of analyst reports. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. UBS Group lifted their price objective on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. Robert W. Baird upped their price target on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $327.44.

General Dynamics Stock Down 1.0%

Shares of GD opened at $332.21 on Thursday. The stock has a market capitalization of $89.36 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.06 and a beta of 0.47. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. The business's 50 day simple moving average is $326.15 and its 200-day simple moving average is $298.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio is presently 40.27%.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $241,325,666.99. This trade represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock worth $86,414,503 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

General Dynamics Company 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.

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