Brokers Offer Predictions for General Dynamics Co.’s FY2024 Earnings (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities researchers at William Blair increased their FY2024 earnings per share estimates for shares of General Dynamics in a research note issued to investors on Wednesday, April 24th. William Blair analyst L. Dipalma now forecasts that the aerospace company will post earnings per share of $14.51 for the year, up from their prior estimate of $14.39. The consensus estimate for General Dynamics’ current full-year earnings is $14.57 per share. William Blair also issued estimates for General Dynamics’ Q4 2024 earnings at $4.33 EPS.

Other equities research analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. StockNews.com upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada cut their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.06.

General Dynamics Trading Down 0.2 %

NYSE:GD opened at $287.16 on Monday. The firm has a market cap of $78.79 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.77 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50. The firm’s fifty day moving average is $281.59 and its 200-day moving average is $262.72.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.64 earnings per share.

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 given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.98%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Large investors have recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the first quarter worth approximately $25,000. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics during the 3rd quarter worth $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics during the 1st quarter valued at $29,000. 86.14% of the stock is currently 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.