Mezzasalma Advisors LLC Has $644,000 Stock Position in General Dynamics Corporation (NYSE:GD)

Mezzasalma Advisors LLC lifted its stake in General Dynamics Corporation (NYSE:GD) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,362 shares of the aerospace company’s stock after purchasing an additional 49 shares during the period. Mezzasalma Advisors LLC’s holdings in General Dynamics were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cushing Capital Partners LLC grew its holdings in General Dynamics by 9.5% during the first quarter. Cushing Capital Partners LLC now owns 2,717 shares of the aerospace company’s stock valued at $741,000 after purchasing an additional 236 shares during the period. Clayton Financial Group LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $203,000. Wendell David Associates Inc. bought a new stake in shares of General Dynamics in the 1st quarter valued at $201,000. NBT Bank N A NY raised its stake in General Dynamics by 0.3% during the 1st quarter. NBT Bank N A NY now owns 17,443 shares of the aerospace company’s stock worth $4,755,000 after buying an additional 51 shares during the period. Finally, Chicago Capital LLC lifted its holdings in General Dynamics by 26.0% during the first quarter. Chicago Capital LLC now owns 1,551 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 320 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GD shares. Susquehanna increased their price target on General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a report on Wednesday, April 2nd. Citigroup decreased their price objective on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. UBS Group lifted their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $293.00.

General Dynamics Price Performance

Shares of GD opened at $281.15 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $275.30 and its 200 day simple moving average is $266.48. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90. The company has a market cap of $75.46 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.88 and a beta of 0.46.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the previous year, the business earned $2.88 EPS. General Dynamics’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics’s payout ratio is 41.61%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the 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 now directly owns 769,607 shares of the company’s stock, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.