General Dynamics (NYSE:GD – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 14.400-14.500 for the period, compared to the consensus earnings per share estimate of 14.510. The company issued revenue guidance of $47.8 billion-$48.2 billion, compared to the consensus revenue estimate of $47.7 billion.
General Dynamics Stock Down 0.2 %
Shares of NYSE:GD traded down $0.58 during midday trading on Friday, hitting $290.40. 1,079,838 shares of the company’s stock were exchanged, compared to its average volume of 1,187,075. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.87. General Dynamics has a 12 month low of $214.53 and a 12 month high of $302.75. The company has a market cap of $79.80 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The stock has a 50 day moving average price of $292.65 and a 200-day moving average price of $282.38.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. On average, sell-side analysts anticipate that General Dynamics will post 14.51 EPS for the current fiscal year.
General Dynamics Announces Dividend
Analyst Ratings Changes
Several equities research analysts have commented on the stock. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a buy rating and a $345.00 price objective for the company. Citigroup upped their price objective on General Dynamics from $300.00 to $320.00 and gave the company a buy rating in a research note on Thursday, April 25th. Royal Bank of Canada restated an outperform rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday. Morgan Stanley lifted their price target on General Dynamics from $271.00 to $293.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Dynamics from $324.00 to $320.00 and set a buy rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of Moderate Buy and a consensus price target of $311.33.
Read Our Latest Research Report on General Dynamics
Insiders Place Their Bets
In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated 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 transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the sale, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The disclosure for this sale can be found here. Insiders sold a total of 68,636 shares of company stock valued at $20,209,317 over the last quarter. 1.52% of the stock is owned by corporate insiders.
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.
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