Wolverine Asset Management LLC Purchases New Shares in General Dynamics Corporation (NYSE:GD)

Key Points

• Wolverine Asset Management LLC has purchased 1,400 shares of General Dynamics Corporation, investing approximately $382,000 in the first quarter.
• CEO Phebe N. Novakovic sold 178,821 shares for over $50 million, representing an 18.85% decrease in her ownership.
• General Dynamics recently announced a $1.50 quarterly dividend to be paid on November 14th, translating to an annual yield of 1.9%.

Wolverine Asset Management LLC bought a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 1,400 shares of the aerospace company's stock, valued at approximately $382,000.

A number of other large investors have also recently bought and sold shares of GD. Rialto Wealth Management LLC raised its position in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new position in General Dynamics during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $27,000. Copia Wealth Management acquired a new stake in shares of General Dynamics in the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.4%

GD stock traded down $1.39 on Thursday, reaching $316.10. 842,905 shares of the company traded hands, compared to its average volume of 1,457,421. The company has a market cap of $85.03 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a fifty day simple moving average of $297.18 and a 200-day simple moving average of $276.45. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last released 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 business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the previous year, the company posted $3.26 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Insider Buying and Selling

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares of the company's stock, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leon Rudy F. De sold 5,490 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the transaction, the director directly owned 5,483 shares in the company, valued at $1,715,137.23. This represents a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,110 shares of company stock valued at $89,042,859 in the last three months. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GD shares. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the stock a "hold" rating in a report on Wednesday, July 9th. TD Securities lifted their price target on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Citigroup raised their target price on shares of General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Finally, Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $315.78.

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.