Analysts expect General Dynamics Co. (NYSE:GD) to post $9.45 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for General Dynamics’ earnings. The highest sales estimate is $9.63 billion and the lowest is $9.35 billion. General Dynamics posted sales of $9.19 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The company is scheduled to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that General Dynamics will report full year sales of $38.69 billion for the current financial year, with estimates ranging from $38.50 billion to $39.10 billion. For the next fiscal year, analysts anticipate that the business will post sales of $40.60 billion, with estimates ranging from $40.05 billion to $40.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow General Dynamics.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The firm had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company earned $2.65 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis.
Several research firms recently commented on GD. Zacks Investment Research downgraded General Dynamics from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Cowen reiterated a “buy” rating and issued a $202.00 price objective on shares of General Dynamics in a report on Wednesday, April 24th. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a report on Monday, February 4th. ValuEngine downgraded General Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Finally, JPMorgan Chase & Co. upgraded General Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $198.29.
In other General Dynamics news, VP Gary L. Whited sold 14,640 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total value of $2,421,163.20. Following the transaction, the vice president now directly owns 30,462 shares of the company’s stock, valued at $5,037,805.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the transaction, the director now directly owns 12,314 shares in the company, valued at $2,123,179.88. The disclosure for this sale can be found here. Insiders sold 64,690 shares of company stock worth $11,052,603 over the last three months. Insiders own 7.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Exeter Financial LLC lifted its position in shares of General Dynamics by 0.9% during the 4th quarter. Exeter Financial LLC now owns 7,105 shares of the aerospace company’s stock valued at $1,117,000 after buying an additional 61 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in General Dynamics by 10.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 61 shares in the last quarter. Weatherstone Capital Management lifted its holdings in General Dynamics by 2.9% in the 1st quarter. Weatherstone Capital Management now owns 2,224 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 63 shares in the last quarter. National Asset Management Inc. lifted its holdings in General Dynamics by 2.1% in the 1st quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 63 shares in the last quarter. Finally, Somerset Trust Co lifted its holdings in General Dynamics by 0.5% in the 1st quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock worth $2,208,000 after purchasing an additional 69 shares in the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.
NYSE GD opened at $167.72 on Thursday. General Dynamics has a one year low of $143.87 and a one year high of $208.88. The stock has a market capitalization of $48.53 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.43%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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