FY2024 Earnings Estimate for General Dynamics Co. (NYSE:GD) Issued By Seaport Res Ptn

General Dynamics Co. (NYSE:GD) – Seaport Res Ptn cut their FY2024 earnings per share estimates for General Dynamics in a report issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings of $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.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group upped their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective 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. Royal Bank of Canada upped their target price on shares of General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Citigroup lifted their price target on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $283.80.

General Dynamics Stock Performance

NYSE GD opened at $281.15 on Tuesday. The business’s 50-day simple moving average is $280.26 and its 200-day simple moving average is $261.22. The firm has a market capitalization of $77.14 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.85 and a beta of 0.68. General Dynamics has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92.

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

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 47.25%.

Insider Activity at General Dynamics

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction on Friday, January 26th. The shares were 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 $39,502,023.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the 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 owns 149,205 shares in the company, valued at $39,502,023.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC bought a new position in General Dynamics in the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter valued at about $25,000. Briaud Financial Planning Inc acquired a new position in General Dynamics in the third quarter worth about $27,000. Finally, Impact Partnership Wealth LLC lifted its stake in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 107 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.