Longfellow Investment Management Co. LLC Purchases 3,381 Shares of General Dynamics Corporation (NYSE:GD)

Longfellow Investment Management Co. LLC grew its stake in General Dynamics Corporation (NYSE:GD) by 24,150.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,395 shares of the aerospace company’s stock after acquiring an additional 3,381 shares during the period. Longfellow Investment Management Co. LLC’s holdings in General Dynamics were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC lifted 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 worth $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth approximately $26,000. Copia Wealth Management purchased a new stake in shares of General Dynamics in the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Dynamics during the fourth quarter valued at approximately $28,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Up 0.4%

GD stock opened at $313.98 on Monday. The firm has a market cap of $84.46 billion, a PE ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm’s fifty day moving average is $294.78 and its 200 day moving average is $275.55. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $3.26 earnings per share. On average, research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Analysts Set New Price Targets

A number of research firms recently commented on GD. Susquehanna increased their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. Wolfe Research upgraded shares of General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 price target on the stock in a research note on Thursday, July 24th. Finally, Morgan Stanley cut their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Hold” and an average target price of $315.78.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Lagrand Burns sold 43,860 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 268,370 shares of company stock valued at $78,408,011 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

About General Dynamics

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.