General Dynamics Corporation (NYSE:GD) Declares Quarterly Dividend of $1.59

General Dynamics Corporation (NYSE:GD) announced a quarterly dividend on Wednesday, June 3rd. Investors 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) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 2nd.

General Dynamics has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 34 years. General Dynamics has a payout ratio of 38.1% indicating that 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 Stock Up 0.0%

NYSE GD opened at $337.66 on Thursday. The firm has a market cap of $91.31 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. General Dynamics has a one year low of $268.10 and a one year high of $369.70. The stock’s 50 day simple moving average is $340.31 and its 200 day simple moving average is $346.32. 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 (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $3.66 EPS. As a group, sell-side analysts forecast that General Dynamics will post 16.62 earnings per share for the current fiscal year.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $271,394,759.13. The trade was a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction on Tuesday, May 12th. The shares were 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 owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 119,600 shares of company stock worth $41,650,580. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GD. Vanguard Group Inc. increased its holdings in General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after buying an additional 528,769 shares during the last quarter. State Street Corp increased its holdings in General Dynamics by 2.7% during the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock worth $3,812,058,000 after buying an additional 294,456 shares during the last quarter. Geode Capital Management LLC increased its holdings in General Dynamics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock worth $2,039,742,000 after buying an additional 195,604 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in General Dynamics by 2.2% during the fourth quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock worth $1,786,786,000 after buying an additional 114,647 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in General Dynamics by 5.4% in the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock valued at $1,236,900,000 after buying an additional 187,435 shares during the period. Institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.