General Dynamics Co. Forecasted to Earn Q2 2024 Earnings of $3.31 Per Share (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Research analysts at William Blair reduced their Q2 2024 earnings per share estimates for shares of General Dynamics in a report released on Wednesday, April 24th. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings per share of $3.31 for the quarter, down from their prior forecast of $3.51. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. William Blair also issued estimates for General Dynamics’ Q3 2024 earnings at $3.98 EPS and FY2025 earnings at $16.43 EPS.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 earnings per share.

GD has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Susquehanna raised their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Citigroup raised their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.63.

General Dynamics Price Performance

NYSE GD opened at $284.97 on Friday. The company has a market capitalization of $78.19 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The business’s fifty day moving average is $280.56 and its 200 day moving average is $261.39. General Dynamics has a fifty-two week low of $202.35 and a fifty-two week high of $296.50.

Institutional Investors Weigh In On General Dynamics

Hedge funds have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics during the 1st quarter worth about $29,000. Finally, Legend Financial Advisors Inc. lifted its stake in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.99%. General Dynamics’s dividend payout ratio is presently 46.33%.

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.