General Dynamics Corporation (NYSE:GD) Shares Acquired by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC significantly increased its stake in General Dynamics Corporation by 24,150% during the 1st quarter, acquiring an additional 3,381 shares to total 3,395 shares valued at approximately $925,000.
• General Dynamics announced a quarterly dividend of $1.50 per share, representing a 1.9% dividend yield, with the ex-dividend date set for October 10th.
• The company's most recent earnings report showed EPS of $3.74, exceeding estimates, with a revenue of $13.04 billion—up 8.9% year-over-year.

Longfellow Investment Management Co. LLC increased its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 24,150.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,395 shares of the aerospace company's stock after buying an additional 3,381 shares during the quarter. Longfellow Investment Management Co. LLC's holdings in General Dynamics were worth $925,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after buying an additional 417 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of General Dynamics by 16.4% in the fourth quarter. Federated Hermes Inc. now owns 1,476 shares of the aerospace company's stock valued at $389,000 after buying an additional 208 shares in the last quarter. Heritage Trust Co purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $267,000. Crux Wealth Advisors purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $336,000. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $694,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 0.4%

Shares of NYSE GD traded down $1.39 on Thursday, hitting $316.10. The company had a trading volume of 843,105 shares, compared to its average volume of 1,458,825. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. The business has a 50 day moving average of $297.18 and a two-hundred day moving average of $276.45. 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 firm has a market capitalization of $85.03 billion, a P/E ratio of 21.21, a PEG ratio of 1.92 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the business earned $3.26 earnings per share. The company's revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. 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. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a "market perform" rating in a report on Monday, July 14th. Susquehanna lifted their price objective on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. One investment 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's stock. According to MarketBeat, General Dynamics currently has an average rating of "Hold" and an average target price of $315.78.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president owned 39,875 shares in the company, valued at $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Leon Rudy F. De sold 5,490 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 5,483 shares in the company, valued at $1,715,137.23. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,110 shares of company stock worth $89,042,859. 1.50% 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.