General Dynamics Co. (NYSE:GD) to Post FY2024 Earnings of $14.46 Per Share, Seaport Res Ptn Forecasts

General Dynamics Co. (NYSE:GD) – Investment analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of General Dynamics in a report released on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings per share of $14.46 for the year, down from their previous estimate of $14.60. The consensus estimate for General Dynamics’ current full-year earnings is $14.57 per share.

Several other research firms have also weighed in on GD. The Goldman Sachs Group boosted their price objective 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. Wells Fargo & Company increased their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Citigroup upped their price objective on shares of General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.80.

General Dynamics Price Performance

Shares of GD opened at $291.31 on Tuesday. General Dynamics has a twelve month low of $202.35 and a twelve month high of $296.50. The company has a 50 day moving average of $279.51 and a 200-day moving average of $260.57. The stock has a market capitalization of $79.93 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.83 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

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

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in General Dynamics in the fourth quarter valued at about $728,284,000. Wellington Management Group LLP boosted its stake in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares during the last quarter. 1832 Asset Management L.P. increased its position in General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in General Dynamics by 55.2% in the 3rd quarter. California Public Employees Retirement System now owns 806,917 shares of the aerospace company’s stock valued at $178,304,000 after purchasing an additional 286,928 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction that occurred 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 owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio is 47.25%.

About General Dynamics

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.