General Dynamics Co. Forecasted to Earn FY2024 Earnings of $14.46 Per Share (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Analysts at Seaport Res Ptn dropped their FY2024 earnings estimates for General Dynamics in a report issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will earn $14.46 per share for the year, down from their prior forecast of $14.60. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share.

A number of other equities analysts have also weighed in on the stock. Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target for the company. in a research report on Monday, January 29th. Wells Fargo & Company upped their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup raised their price target on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.80.

General Dynamics Trading Down 4.0 %

Shares of NYSE:GD opened at $281.15 on Tuesday. The stock has a 50 day moving average of $280.26 and a 200 day moving average of $261.22. The company has a market cap of $77.14 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.85 and a beta of 0.68. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter in the previous year, the business posted $3.58 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a $1.42 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is 47.25%.

Insider Activity

In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares in the company, valued at $39,502,023.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the first quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics during the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. boosted its holdings in 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. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.