General Dynamics Co. to Post Q3 2024 Earnings of $4.02 Per Share, William Blair Forecasts (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities researchers at William Blair increased their Q3 2024 earnings per share estimates for shares of General Dynamics in a research report issued on Wednesday, July 24th. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings per share of $4.02 for the quarter, up from their prior estimate of $3.98. The consensus estimate for General Dynamics’ current full-year earnings is $14.52 per share.

A number of other equities research analysts have also recently weighed in on the company. Susquehanna raised their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Citigroup raised their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Finally, Barclays increased their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.33.

General Dynamics Trading Down 0.2 %

Shares of GD opened at $290.40 on Friday. The stock has a 50 day simple moving average of $292.65 and a 200-day simple moving average of $282.38. General Dynamics has a 1 year low of $214.53 and a 1 year high of $302.75. The stock has a market cap of $79.80 billion, a PE ratio of 23.69, a PEG ratio of 1.67 and a beta of 0.60. The company has a current ratio of 1.33, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the company posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP William A. Moss sold 21,050 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the sale, the vice president now owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,636 shares of company stock valued at $20,209,317. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics in the first quarter valued at $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at $29,000. 86.14% of the stock is currently 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.