General Dynamics Co. (NYSE:GD) Declares Quarterly Dividend of $1.42

General Dynamics Co. (NYSE:GD) announced a quarterly dividend on Wednesday, June 5th, RTT News reports. Shareholders of record on Friday, July 5th will be paid a dividend of 1.42 per share by the aerospace company on Friday, August 9th. This represents a $5.68 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, July 5th.

General Dynamics has increased its dividend by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 33 years. General Dynamics has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $16.25 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 35.0%.

General Dynamics Stock Down 0.3 %

NYSE GD opened at $284.87 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics has a 1-year low of $211.94 and a 1-year high of $302.75. The company has a 50 day moving average of $294.07 and a 200-day moving average of $278.55. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.63 and a beta of 0.60.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that General Dynamics will post 14.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock valued at $34,391,642 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on GD shares. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada decreased their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.56.

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.