General Dynamics (NYSE:GD) Releases FY 2024 Earnings Guidance

General Dynamics (NYSE:GD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 14.000-14.000 for the period, compared to the consensus earnings per share estimate of 14.180. The company issued revenue guidance of $48.0 billion-$48.0 billion, compared to the consensus revenue estimate of $47.6 billion. General Dynamics also updated its FY24 guidance to $14.00 EPS.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday. Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada upped their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Trading Up 0.4 %

NYSE GD traded up $1.25 on Friday, reaching $302.52. The company had a trading volume of 1,405,397 shares, compared to its average volume of 1,095,718. The firm has a market cap of $83.00 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The business has a 50 day moving average of $300.28 and a two-hundred day moving average of $294.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the company earned $3.04 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Analysts forecast that General Dynamics will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.52% of the company’s stock.

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.