FY2024 EPS Estimate for General Dynamics Lowered by Analyst

General Dynamics Co. (NYSE:GD) – William Blair reduced their FY2024 earnings per share (EPS) estimates for General Dynamics in a research note issued on Wednesday, October 23rd. William Blair analyst L. Dipalma now expects that the aerospace company will earn $14.00 per share for the year, down from their previous estimate of $14.46. The consensus estimate for General Dynamics’ current full-year earnings is $14.38 per share.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 EPS. General Dynamics’s revenue was up 10.4% compared to the same quarter last year.

Several other research analysts have also issued reports on GD. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday. Royal Bank of Canada lifted their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Finally, Susquehanna lifted their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.88.

General Dynamics Price Performance

Shares of NYSE GD opened at $301.27 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $300.17 and a two-hundred day moving average of $294.55. General Dynamics has a twelve month low of $236.58 and a twelve month high of $313.11. The company has a market capitalization of $82.66 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.67 and a beta of 0.61.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC grew its position in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the 1st quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the 2nd quarter valued at approximately $29,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics during the first quarter worth approximately $29,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.89%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.