Envestnet Portfolio Solutions Inc. Has $4.80 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Envestnet Portfolio Solutions Inc. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,220 shares of the aerospace company’s stock after selling 729 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in General Dynamics were worth $4,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. United Bank lifted its stake in shares of General Dynamics by 4.0% in the 3rd quarter. United Bank now owns 5,776 shares of the aerospace company’s stock valued at $1,746,000 after purchasing an additional 224 shares during the last quarter. Empowered Funds LLC raised its holdings in General Dynamics by 3.6% during the third quarter. Empowered Funds LLC now owns 8,406 shares of the aerospace company’s stock valued at $2,540,000 after buying an additional 292 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of General Dynamics by 6.8% in the third quarter. Pathstone Holdings LLC now owns 31,162 shares of the aerospace company’s stock worth $9,417,000 after buying an additional 1,971 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in shares of General Dynamics during the 3rd quarter valued at about $703,000. Finally, Prospera Financial Services Inc raised its stake in shares of General Dynamics by 2.2% in the 3rd quarter. Prospera Financial Services Inc now owns 12,392 shares of the aerospace company’s stock valued at $3,750,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GD. Wells Fargo & Company increased their price target on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Royal Bank of Canada cut their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Finally, Susquehanna decreased their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $297.71.

General Dynamics Stock Up 0.9 %

NYSE GD opened at $267.51 on Wednesday. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $258.20 and its two-hundred day moving average is $278.32. The company has a market capitalization of $72.32 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.24%. General Dynamics’s payout ratio is 43.99%.

General Dynamics declared that its board has initiated a stock repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

About General Dynamics

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.