General Dynamics Co. (NYSE:GD) declared a quarterly dividend on Wednesday, June 3rd, RTT News reports. Stockholders of record on Friday, July 3rd will be given a dividend of 1.10 per share by the aerospace company on Friday, August 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, July 1st.
General Dynamics has increased its dividend payment by an average of 748.9% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. General Dynamics has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $12.13 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 36.3%.
Shares of GD opened at $149.34 on Tuesday. The stock has a 50 day moving average of $147.36 and a 200 day moving average of $157.00. General Dynamics has a 12 month low of $100.55 and a 12 month high of $193.76. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.44 and a beta of 1.04. The company has a current ratio of 1.34, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $2.43 EPS for the quarter, missing the Zacks’ consensus estimate of $2.46 by ($0.03). The company had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $9.25 billion. General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. General Dynamics’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.56 earnings per share. As a group, equities research analysts predict that General Dynamics will post 11.14 earnings per share for the current year.
GD has been the topic of a number of analyst reports. Susquehanna Bancshares boosted their price target on General Dynamics from $167.00 to $184.00 and gave the stock a “positive” rating in a research report on Thursday, June 4th. Royal Bank of Canada began coverage on shares of General Dynamics in a report on Wednesday, May 20th. They issued an “outperform” rating and a $157.00 price objective for the company. ValuEngine lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. TheStreet upgraded shares of General Dynamics from a “c” rating to a “b-” rating in a report on Tuesday, June 23rd. Finally, Citigroup upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $185.00 to $170.00 in a report on Monday, April 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $187.21.
General Dynamics announced that its Board of Directors has approved a share repurchase program on Wednesday, March 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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