Wolverine Asset Management LLC Sells 7,500 Shares of General Dynamics Co. (NYSE:GD)

Wolverine Asset Management LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 83.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,500 shares of the aerospace company’s stock after selling 7,500 shares during the period. Wolverine Asset Management LLC’s holdings in General Dynamics were worth $453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. grew its position in General Dynamics by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after buying an additional 47,915 shares in the last quarter. Boston Partners grew its position in General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after acquiring an additional 23,304 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Trading Up 0.6 %

GD opened at $313.97 on Thursday. The company’s 50 day moving average price is $302.25 and its two-hundred day moving average price is $296.11. The firm has a market capitalization of $86.33 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.89 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. During the same quarter in the previous year, the company earned $3.04 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current year.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

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.