General Dynamics (NYSE:GD) Updates FY24 Earnings Guidance

General Dynamics (NYSE:GD) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $14.00 for the period, compared to the consensus earnings per share estimate of $14.15. General Dynamics also updated its FY 2024 guidance to 14.000-14.000 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GD. Susquehanna raised their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Citigroup raised their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.06.

General Dynamics Price Performance

Shares of GD stock traded down $1.64 during trading hours on Thursday, hitting $302.76. The stock had a trading volume of 414,240 shares, compared to its average volume of 1,089,762. The stock has a market capitalization of $83.07 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics has a one year low of $236.58 and a one year high of $313.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock’s 50-day moving average price is $300.17 and its two-hundred day moving average price is $294.55.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 EPS. Equities analysts forecast that General Dynamics will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by company 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.