Wolverine Asset Management LLC Invests $2.21 Million in General Dynamics Co. (NYSE:GD)

Wolverine Asset Management LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,500 shares of the aerospace company’s stock, valued at approximately $2,207,000.

Several other large investors also recently made changes to their positions in the stock. Impact Partnership Wealth LLC boosted its stake in General Dynamics by 411.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 107 shares during the period. Exchange Traded Concepts LLC boosted its stake in General Dynamics by 1,406.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock valued at $596,000 after purchasing an additional 2,517 shares during the period. Private Trust Co. NA boosted its stake in General Dynamics by 1.1% during the 3rd quarter. Private Trust Co. NA now owns 4,210 shares of the aerospace company’s stock valued at $930,000 after purchasing an additional 47 shares during the period. Caprock Group LLC raised its holdings in General Dynamics by 1.2% in the 3rd quarter. Caprock Group LLC now owns 6,861 shares of the aerospace company’s stock valued at $1,516,000 after acquiring an additional 80 shares in the last quarter. Finally, CX Institutional raised its holdings in General Dynamics by 123.9% in the 3rd quarter. CX Institutional now owns 23,531 shares of the aerospace company’s stock valued at $5,200,000 after acquiring an additional 13,022 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares in the company, valued at $39,502,023.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares in the company, valued at $39,502,023.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the subject of several recent research reports. Wells Fargo & Company upped their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group increased their target price on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Susquehanna increased their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $283.80.

General Dynamics Stock Down 4.0 %

NYSE:GD opened at $281.15 on Thursday. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $77.14 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.86 and a beta of 0.68. The stock’s fifty day simple moving average is $280.26 and its 200-day simple moving average is $261.22.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.02%. General Dynamics’s payout ratio is currently 47.25%.

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.