Mezzasalma Advisors LLC Purchases New Position in General Dynamics Co. (NYSE:GD)

Mezzasalma Advisors LLC purchased 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 SEC. The firm purchased 1,058 shares of the aerospace company’s stock, valued at approximately $299,000.

Several other hedge funds have also modified their holdings of GD. Eudaimonia Partners LLC purchased a new stake in General Dynamics in the 4th quarter worth about $240,000. Benjamin F. Edwards & Company Inc. grew its position in General Dynamics by 188.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock worth $10,602,000 after purchasing an additional 26,668 shares during the period. Pacer Advisors Inc. lifted its stake in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after purchasing an additional 14,468 shares during the period. Principal Securities Inc. acquired a new position in General Dynamics in the 4th quarter worth about $1,056,000. Finally, Gladstone Capital Management LLP acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $3,869,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of NYSE:GD traded down $0.93 on Thursday, hitting $284.88. 656,719 shares of the company were exchanged, compared to its average volume of 976,308. General Dynamics Co. has a one year low of $211.94 and a one year high of $302.75. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 23.24, a PEG 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 company’s 50 day moving average price is $294.14 and its two-hundred day moving average price is $278.60.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 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 company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the company earned $2.64 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group upped their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the company from $305.00 to $335.00 in a report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.60% of the stock is currently owned by insiders.

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.