Mezzasalma Advisors LLC Makes New $299,000 Investment in General Dynamics Co. (NYSE:GD)

Mezzasalma Advisors LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,058 shares of the aerospace company’s stock, valued at approximately $299,000.

A number of other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the first quarter worth about $25,000. MeadowBrook Investment Advisors LLC bought a new position in General Dynamics during the 4th quarter valued at $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics during the 4th quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the 1st quarter worth $29,000. Finally, Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock worth $34,391,642 over the last three months. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GD shares. Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Citigroup increased their target price on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group increased their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Susquehanna increased their price objective on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $305.56.

General Dynamics Stock Performance

GD stock traded down $0.93 during trading on Thursday, reaching $284.88. The company had a trading volume of 656,719 shares, compared to its average volume of 976,308. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The firm has a 50-day simple moving average of $294.14 and a 200-day simple moving average of $278.60. General Dynamics Co. has a twelve month low of $211.94 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the company posted $2.64 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is 46.33%.

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.