Envestnet Portfolio Solutions Inc. Sells 729 Shares of General Dynamics Co. (NYSE:GD)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,220 shares of the aerospace company’s stock after selling 729 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in General Dynamics were worth $4,801,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Financial Life Planners bought a new stake in shares of General Dynamics during the 4th quarter valued at $25,000. Whipplewood Advisors LLC bought a new stake in General Dynamics in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Dynamics in the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in General Dynamics during the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $267.51 on Wednesday. The stock has a market capitalization of $72.32 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The stock has a 50 day moving average price of $258.20 and a 200 day moving average price of $278.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

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

General Dynamics announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

Insider Activity at General Dynamics

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GD shares. JPMorgan Chase & Co. reduced their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Susquehanna reduced their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. Finally, Citigroup decreased their target price on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $297.71.

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.