Seaport Res Ptn Weighs in on General Dynamics Co.’s FY2024 Earnings (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities research analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of General Dynamics in a report issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings of $14.46 per share for the year, down from their prior forecast of $14.60. The consensus estimate for General Dynamics’ current full-year earnings is $14.57 per share.

Other analysts have also issued research reports about the company. Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company upped their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group lifted their target price on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. The Goldman Sachs Group upped their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Susquehanna boosted their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $283.80.

General Dynamics Trading Up 0.9 %

Shares of GD stock opened at $291.31 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm has a market cap of $79.93 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.68. The business has a 50-day moving average price of $279.51 and a two-hundred day moving average price of $260.57. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50.

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

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.95%. General Dynamics’s dividend payout ratio is 47.25%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of the business’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 sale, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Hedge funds have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the 1st quarter worth about $25,000. MeadowBrook Investment Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics during the first quarter valued at approximately $29,000. Finally, Legend Financial Advisors Inc. raised its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

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.