Envestnet Asset Management Inc. lowered its position in General Dynamics Corporation (NYSE:GD) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,818 shares of the aerospace company’s stock after selling 5,549 shares during the quarter. Envestnet Asset Management Inc.’s holdings in General Dynamics were worth $12,297,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Aviance Capital Management LLC lifted its holdings in General Dynamics by 0.3% during the first quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock worth $692,000 after buying an additional 10 shares during the period. Columbia Partners L L C Investment Management purchased a new stake in shares of General Dynamics during the 1st quarter valued at $311,000. Park National Corp OH lifted its holdings in shares of General Dynamics by 7.3% during the 2nd quarter. Park National Corp OH now owns 42,752 shares of the aerospace company’s stock valued at $8,469,000 after purchasing an additional 2,893 shares during the last quarter. Bath Savings Trust Co lifted its holdings in shares of General Dynamics by 11.9% during the 2nd quarter. Bath Savings Trust Co now owns 1,343 shares of the aerospace company’s stock valued at $266,000 after purchasing an additional 143 shares during the last quarter. Finally, Centre Asset Management LLC lifted its holdings in shares of General Dynamics by 3.5% during the 2nd quarter. Centre Asset Management LLC now owns 29,740 shares of the aerospace company’s stock valued at $5,891,000 after purchasing an additional 1,000 shares during the last quarter. 86.87% of the stock is currently owned by institutional investors.
Several analysts have recently commented on the company. Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Citigroup reiterated a “neutral” rating and set a $215.00 price objective (up previously from $210.00) on shares of General Dynamics in a report on Monday, October 9th. ValuEngine lowered General Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen reiterated a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 19th. Finally, Jefferies Group reiterated a “buy” rating and set a $236.00 price objective on shares of General Dynamics in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $218.45.
Shares of General Dynamics Corporation (GD) traded up $0.30 during mid-day trading on Thursday, reaching $200.21. The company had a trading volume of 1,223,100 shares, compared to its average volume of 1,149,517. The stock has a market cap of $59,689.71, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. General Dynamics Corporation has a one year low of $168.00 and a one year high of $214.81.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. equities analysts predict that General Dynamics Corporation will post 9.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.68%. General Dynamics’s dividend payout ratio (DPR) is 33.50%.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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