General Dynamics Co. (GD) to Issue Quarterly Dividend of $1.50 on August 8th

General Dynamics Co. (NYSE:GD) declared a quarterly dividend on Wednesday, June 4th, RTT News reports. Investors of record on Thursday, July 3rd will be given a dividend of 1.50 per share by the aerospace company on Friday, August 8th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, July 3rd.

General Dynamics has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $17.14 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 35.0%.

General Dynamics Stock Performance

NYSE GD opened at $274.25 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 52-week low of $239.20 and a 52-week high of $316.90. The business’s 50-day moving average price is $272.64 and its 200 day moving average price is $266.74. The firm has a market cap of $73.61 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the company posted $2.88 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts expect that General Dynamics will post 14.83 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in General Dynamics stock. Brighton Jones LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,885 shares of the aerospace company’s stock after purchasing an additional 417 shares during the period. Brighton Jones LLC’s holdings in General Dynamics were worth $760,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GD. UBS Group lifted their price objective on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Susquehanna lifted their price objective on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Argus set a $295.00 price objective on General Dynamics in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price objective on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $293.00.

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.