FY2024 EPS Estimate for General Dynamics Reduced by Analyst

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

Other analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company boosted their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.88.

General Dynamics Stock Up 0.4 %

Shares of NYSE:GD opened at $302.52 on Friday. The business’s 50-day moving average is $300.40 and its 200-day moving average is $294.67. General Dynamics has a 1 year low of $236.58 and a 1 year high of $313.11. The company has a market capitalization of $83.13 billion, a price-to-earnings ratio of 23.60, a P/E/G 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 (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 earnings per share.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently modified their holdings of the stock. Coston McIsaac & Partners boosted its holdings in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in shares of General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares during the last quarter. Trueblood Wealth Management LLC grew its stake in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC increased its position in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 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 firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s 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.