Envestnet Asset Management Inc. Raises Position in General Dynamics Co. (NYSE:GD)

Envestnet Asset Management Inc. lifted its position in shares of General Dynamics Co. (NYSE:GD) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,968 shares of the aerospace company’s stock after acquiring an additional 8,738 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of General Dynamics worth $252,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new stake in General Dynamics in the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the first quarter valued at approximately $29,000. Finally, American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter worth approximately $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 1.4 %

Shares of GD stock opened at $304.80 on Friday. The stock has a market cap of $83.63 billion, a P/E ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. The company’s fifty day simple moving average is $292.48 and its two-hundred day simple moving average is $289.98. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $306.51.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the company posted $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GD. Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. BTIG Research started coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

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.