Wolverine Asset Management LLC Takes $382,000 Position in General Dynamics Corporation (NYSE:GD)

Wolverine Asset Management LLC purchased a new stake in General Dynamics Corporation (NYSE:GD) in the 1st quarter, Holdings Channel reports. The fund purchased 1,400 shares of the aerospace company’s stock, valued at approximately $382,000.

Several other hedge funds have also modified their holdings of GD. Rialto Wealth Management LLC raised its holdings in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in General Dynamics during the first quarter worth $26,000. Copia Wealth Management acquired a new position in General Dynamics during the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics during the first quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays lifted their price objective on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. Robert W. Baird boosted their price target on General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Morgan Stanley cut their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $315.78.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the business’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at approximately $12,452,165. This represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,370 shares of company stock valued at $78,408,011. Company insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $313.98 on Monday. The business has a fifty day simple moving average of $294.78 and a 200-day simple moving average of $275.55. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $322.50. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The company has a market cap of $84.46 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the previous year, the business earned $3.26 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s payout ratio is 40.27%.

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.