General Dynamics Corporation (GD) To Go Ex-Dividend on July 2nd

General Dynamics Corporation (NYSE:GD) declared a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Thursday, July 2nd will be given a dividend of 1.59 per share by the aerospace company on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, July 2nd.

General Dynamics has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 34 consecutive years. General Dynamics has a dividend payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $18.28 per share next year, which means the company should continue to be able to cover its $6.36 annual dividend with an expected future payout ratio of 34.8%.

General Dynamics Trading Up 0.4%

NYSE:GD opened at $348.19 on Tuesday. The firm has a market capitalization of $94.16 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.15 and a beta of 0.34. The business has a 50 day simple moving average of $341.98 and a 200 day simple moving average of $347.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics has a 12-month low of $289.40 and a 12-month high of $369.70.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.66 EPS. Equities research analysts predict that General Dynamics will post 16.63 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director owned 10,643 shares of the company’s stock, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 in the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently made changes to their positions in GD. Hamilton Wealth LLC raised its stake in General Dynamics by 14.7% during the 1st quarter. Hamilton Wealth LLC now owns 1,258 shares of the aerospace company’s stock valued at $432,000 after purchasing an additional 161 shares during the period. Ballast Advisors LLC purchased a new position in shares of General Dynamics during the first quarter valued at $34,000. Sapient Capital LLC grew its holdings in shares of General Dynamics by 10.4% during the first quarter. Sapient Capital LLC now owns 970 shares of the aerospace company’s stock valued at $333,000 after buying an additional 91 shares in the last quarter. Western Wealth Management LLC raised its position in General Dynamics by 15.2% during the first quarter. Western Wealth Management LLC now owns 3,434 shares of the aerospace company’s stock valued at $1,179,000 after buying an additional 453 shares during the period. Finally, Rathbones Group PLC raised its position in General Dynamics by 10.5% during the first quarter. Rathbones Group PLC now owns 2,267 shares of the aerospace company’s stock valued at $778,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.