General Dynamics Corporation (NYSE:GD) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Investors of record on Friday, January 19th will be given a dividend of 0.84 per share by the aerospace company on Friday, February 9th. This represents a $3.36 annualized dividend and a dividend yield of 1.68%.
General Dynamics has increased its dividend by an average of 20.9% annually over the last three years and has increased its dividend every year for the last 19 years. General Dynamics has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $10.55 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 31.8%.
General Dynamics (GD) traded up $0.30 during midday trading on Thursday, hitting $200.21. 1,223,100 shares of the company traded hands, compared to its average volume of 1,149,517. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. The firm has a market cap of $59,689.71, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.40 and a beta of 0.72. General Dynamics has a twelve month low of $168.00 and a twelve month high of $214.81.
Several analysts recently issued reports on GD shares. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a research report on Monday, October 2nd. ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Jefferies Group reiterated a “buy” rating on shares of General Dynamics in a research report on Friday, August 11th. Cowen reiterated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada set a $239.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $218.45.
In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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