$9.68 Billion in Sales Expected for General Dynamics Co. (NYSE:GD) This Quarter

Equities analysts expect General Dynamics Co. (NYSE:GD) to announce $9.68 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for General Dynamics’ earnings, with the highest sales estimate coming in at $9.88 billion and the lowest estimate coming in at $9.58 billion. General Dynamics reported sales of $9.09 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The firm is expected to issue its next quarterly earnings report before the market opens on Wednesday, October 23rd.

On average, analysts expect that General Dynamics will report full-year sales of $39.24 billion for the current financial year, with estimates ranging from $39.18 billion to $39.31 billion. For the next year, analysts expect that the firm will report sales of $41.10 billion, with estimates ranging from $40.40 billion to $41.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow General Dynamics.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share.

Several brokerages have recently issued reports on GD. Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, October 8th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a research note on Monday, September 2nd. Robert W. Baird upped their price target on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Morgan Stanley cut their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research note on Thursday, October 10th. Finally, Cowen set a $202.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average price target of $193.58.

General Dynamics stock opened at $175.45 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. The firm has a market cap of $50.82 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.71 and a beta of 1.20. The business’s fifty day moving average is $183.69 and its two-hundred day moving average is $178.90. General Dynamics has a 52 week low of $143.87 and a 52 week high of $193.76.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, October 10th. General Dynamics’s payout ratio is 35.73%.

In other General Dynamics news, Director William A. Osborn sold 1,500 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the completion of the sale, the director now directly owns 37,585 shares in the company, valued at $6,861,517.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gary L. Whited sold 14,029 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the sale, the vice president now owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The disclosure for this sale can be found here. Insiders sold 48,459 shares of company stock worth $9,079,802 in the last three months. Insiders own 7.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in GD. United Bank increased its holdings in shares of General Dynamics by 3.9% in the first quarter. United Bank now owns 4,740 shares of the aerospace company’s stock worth $802,000 after acquiring an additional 180 shares in the last quarter. Bath Savings Trust Co grew its holdings in shares of General Dynamics by 12.2% during the second quarter. Bath Savings Trust Co now owns 1,655 shares of the aerospace company’s stock worth $301,000 after buying an additional 180 shares in the last quarter. Woodstock Corp grew its holdings in shares of General Dynamics by 1.1% during the second quarter. Woodstock Corp now owns 6,625 shares of the aerospace company’s stock worth $1,205,000 after buying an additional 75 shares in the last quarter. Rockland Trust Co. grew its holdings in shares of General Dynamics by 6.9% during the second quarter. Rockland Trust Co. now owns 1,649 shares of the aerospace company’s stock worth $300,000 after buying an additional 107 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in shares of General Dynamics by 14.6% during the second quarter. Foundations Investment Advisors LLC now owns 1,664 shares of the aerospace company’s stock worth $304,000 after buying an additional 212 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Earnings History and Estimates for General Dynamics (NYSE:GD)

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