Envestnet Portfolio Solutions Inc. Sells 6,327 Shares of General Dynamics Corporation (NYSE:GD)

Envestnet Portfolio Solutions Inc. reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,893 shares of the aerospace company's stock after selling 6,327 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in General Dynamics were worth $3,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $6,265,813,000 after purchasing an additional 706,317 shares during the last quarter. Capital Research Global Investors lifted its holdings in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after buying an additional 463,497 shares during the period. Geode Capital Management LLC boosted its holdings in General Dynamics by 2.4% in 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 acquiring an additional 131,268 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of General Dynamics by 0.8% in the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after purchasing an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada increased its position 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 worth $773,355,000 after buying an additional 145,978 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GD shares. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. Morgan Stanley reduced their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup lowered their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, General Dynamics presently has an average rating of "Hold" and a consensus target price of $293.00.

General Dynamics Price Performance

Shares of NYSE GD opened at $278.46 on Monday. The company's 50-day moving average is $275.58 and its 200 day moving average is $266.45. 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 stock has a market capitalization of $74.74 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.88 and a beta of 0.46. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping 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 business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the previous year, the firm posted $2.88 earnings per share. General Dynamics's quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 annualized dividend and a yield of 2.15%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics 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 sale, the chief executive officer now owns 769,607 shares of the company's stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

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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