Q1 2024 Earnings Estimate for General Dynamics Co. (NYSE:GD) Issued By Seaport Res Ptn

General Dynamics Co. (NYSE:GD) – Research analysts at Seaport Res Ptn cut their Q1 2024 EPS estimates for General Dynamics in a note issued to investors on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings per share of $2.77 for the quarter, down from their previous forecast of $3.23. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. Seaport Res Ptn also issued estimates for General Dynamics’ Q2 2024 earnings at $3.46 EPS and Q4 2024 earnings at $4.47 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research note on Monday, January 29th. The Goldman Sachs Group boosted their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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 Wednesday. The stock has a market capitalization of $77.14 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.85 and a beta of 0.68. The stock has a 50-day moving average of $280.26 and a 200 day moving average of $261.22. 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 has a twelve month low of $202.35 and a twelve month high of $296.50.

General Dynamics (NYSE:GD) last announced its quarterly 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). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $3.58 earnings per share.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of General Dynamics by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares during the period. Wellington Management Group LLP lifted its position in General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. Sanders Capital LLC boosted its stake in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares in the last quarter. Norges Bank bought a new stake in General Dynamics in the 4th quarter valued at $728,284,000. Finally, FMR LLC raised its stake in shares of General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after buying an additional 275,947 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a filing with the SEC, which is available through this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction 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 completion of the sale, 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 owned by insiders.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. 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. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. General Dynamics’s dividend payout ratio is 47.25%.

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.