William Blair Expects Weaker Earnings for General Dynamics

General Dynamics Co. (NYSE:GD) – Research analysts at William Blair lowered their FY2024 earnings per share estimates for shares of General Dynamics in a research note issued to investors on Wednesday, October 23rd. William Blair analyst L. Dipalma now anticipates that the aerospace company will earn $14.00 per share for the year, down from their previous estimate of $14.46. The consensus estimate for General Dynamics’ current full-year earnings is $14.27 per share.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 earnings per share.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Susquehanna boosted their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein reduced their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.88.

General Dynamics Stock Up 0.4 %

GD opened at $302.52 on Friday. The company has a market capitalization of $83.13 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The business has a 50-day moving average of $300.40 and a 200-day moving average of $294.67.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC boosted its position in shares of General Dynamics by 87.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after acquiring an additional 6,858 shares during the period. Clearbridge Investments LLC acquired a new position in General Dynamics during the 1st quarter worth approximately $493,000. Wealth Enhancement Advisory Services LLC lifted its stake in General Dynamics by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock valued at $41,734,000 after purchasing an additional 3,531 shares during the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at $3,022,000. Finally, Cetera Investment Advisers boosted its stake in shares of General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after purchasing an additional 71,871 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is owned by corporate insiders.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio is 44.31%.

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.