General Dynamics (NYSE:GD) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Posted by on Oct 24th, 2019 // Comments off

General Dynamics (NYSE:GD) issued its quarterly earnings data on Wednesday. The aerospace company reported $3.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.06 by $0.08, Briefing.com reports. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.75 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 earnings per share.

NYSE:GD traded up $1.11 during mid-day trading on Thursday, reaching $174.67. 2,444,048 shares of the company’s stock were exchanged, compared to its average volume of 1,268,788. General Dynamics has a one year low of $143.87 and a one year high of $193.76. The firm has a market capitalization of $51.96 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20. The business’s fifty day simple moving average is $183.17 and its two-hundred day simple moving average is $179.00. 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 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 dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, October 10th. General Dynamics’s dividend payout ratio is 35.73%.

In other General Dynamics news, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the sale, the executive vice president now directly owns 100,557 shares in the company, valued at $18,820,248.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,459 shares of company stock worth $9,079,802. 7.10% of the stock is owned by insiders.

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

General Dynamics Company Profile

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 for General Dynamics (NYSE:GD)

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