General Dynamics Co. to Post Q1 2024 Earnings of $2.77 Per Share, Seaport Res Ptn Forecasts (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Seaport Res Ptn dropped their Q1 2024 EPS estimates for General Dynamics in a report released on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings of $2.77 per share for the quarter, down from their previous forecast of $3.23. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. Seaport Res Ptn also issued estimates for General Dynamics’ Q2 2024 earnings at $3.46 EPS and Q4 2024 earnings at $4.47 EPS.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the company earned $2.64 EPS. The business’s revenue was up 8.6% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company lifted their target price on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Citigroup boosted their target price on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $285.63.

General Dynamics Trading Up 1.4 %

NYSE:GD opened at $284.97 on Wednesday. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50. The firm has a 50-day moving average price of $280.56 and a two-hundred day moving average price of $261.39. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The firm has a market cap of $78.19 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.68.

General Dynamics Increases Dividend

The company also recently declared 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. This represents a $5.68 annualized dividend and a yield of 1.99%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction on 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 approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of hedge funds have recently made changes to their positions in GD. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 1st quarter worth $25,000. Briaud Financial Planning Inc purchased a new position in General Dynamics in the 3rd quarter worth $27,000. Finally, Impact Partnership Wealth LLC raised its position in General Dynamics by 411.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 107 shares during the period. 86.14% of the stock is owned by institutional investors.

About General Dynamics

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.