General Dynamics (NYSE:GD – Get Free Report) posted its quarterly earnings results on Wednesday. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04), Briefing.com reports. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. General Dynamics updated its FY24 guidance to $14.40-14.50 EPS.
General Dynamics Trading Up 2.3 %
NYSE GD traded up $6.45 on Thursday, reaching $291.12. The company had a trading volume of 1,809,771 shares, compared to its average volume of 1,072,623. The firm has a market cap of $79.87 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.68 and a beta of 0.60. General Dynamics has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The business has a 50 day moving average of $292.82 and a two-hundred day moving average of $281.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.
General Dynamics Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.95%. General Dynamics’s payout ratio is 46.33%.
Insider Buying and Selling at General Dynamics
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Sanford C. Bernstein boosted their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Morgan Stanley boosted their price target on General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.33.
Read Our Latest Report on General Dynamics
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.
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