Wolverine Asset Management LLC Has $453,000 Stock Position in General Dynamics Co. (NYSE:GD)

Wolverine Asset Management LLC cut its position in General Dynamics Co. (NYSE:GD) by 83.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,500 shares of the aerospace company’s stock after selling 7,500 shares during the quarter. Wolverine Asset Management LLC’s holdings in General Dynamics were worth $453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Ashton Thomas Securities LLC bought a new stake in shares of General Dynamics during the third quarter valued at approximately $115,000. Los Angeles Capital Management LLC increased its stake in General Dynamics by 55.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 155,658 shares of the aerospace company’s stock valued at $47,040,000 after purchasing an additional 55,240 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in General Dynamics by 0.4% during the third quarter. Crossmark Global Holdings Inc. now owns 37,683 shares of the aerospace company’s stock worth $11,387,000 after buying an additional 136 shares during the last quarter. Mayflower Financial Advisors LLC bought a new position in shares of General Dynamics in the third quarter valued at $256,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of General Dynamics by 7.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,430 shares of the aerospace company’s stock valued at $1,339,000 after buying an additional 291 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

GD has been the topic of a number of analyst reports. Morgan Stanley upgraded shares of 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 report on Friday, August 9th. Royal Bank of Canada increased their price objective on 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 cut their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Barclays increased their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Price Performance

NYSE GD opened at $313.97 on Thursday. The firm’s 50-day simple moving average is $302.25 and its two-hundred day simple moving average is $296.11. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $86.33 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the prior year, the firm posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. 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 General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently 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.