General Dynamics Co. (NYSE:GD) Expected to Post Earnings of $3.45 Per Share

Equities analysts expect that General Dynamics Co. (NYSE:GD) will post earnings per share of $3.45 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for General Dynamics’ earnings, with estimates ranging from $3.38 to $3.51. General Dynamics reported earnings of $3.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 12.4%. The business is expected to announce its next quarterly earnings results on Wednesday, January 29th.

On average, analysts expect that General Dynamics will report full year earnings of $11.91 per share for the current financial year, with EPS estimates ranging from $11.85 to $12.00. For the next year, analysts anticipate that the business will post earnings of $12.91 per share, with EPS estimates ranging from $12.45 to $13.19. Zacks’ EPS calculations are an average based on a survey of research firms that cover General Dynamics.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.06 by $0.08. General Dynamics had a net margin of 8.66% and a return on equity of 26.79%. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the firm earned $2.89 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, September 2nd. Cowen set a $202.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley cut their target price on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research note on Thursday, October 10th. Credit Suisse Group cut their target price on shares of General Dynamics from $197.00 to $193.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays set a $215.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $192.66.

Shares of GD stock traded up $1.89 during trading hours on Tuesday, reaching $187.08. 910,034 shares of the stock were exchanged, compared to its average volume of 1,456,670. The business’s fifty day moving average is $179.07 and its two-hundred day moving average is $179.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.11 and a quick ratio of 0.74. General Dynamics has a 12-month low of $143.87 and a 12-month high of $193.76. The firm has a market capitalization of $53.58 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.80 and a beta of 1.17.

In related news, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total value of $6,163,178.80. Following the completion of the transaction, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at $18,820,248.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bath Savings Trust Co boosted its holdings in shares of General Dynamics by 12.2% in the second quarter. Bath Savings Trust Co now owns 1,655 shares of the aerospace company’s stock valued at $301,000 after acquiring an additional 180 shares during the period. Woodstock Corp boosted its holdings in shares of General Dynamics by 1.1% in the second quarter. Woodstock Corp now owns 6,625 shares of the aerospace company’s stock valued at $1,205,000 after acquiring an additional 75 shares during the period. Rockland Trust Co. boosted its holdings in shares of General Dynamics by 6.9% in the second quarter. Rockland Trust Co. now owns 1,649 shares of the aerospace company’s stock valued at $300,000 after acquiring an additional 107 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of General Dynamics by 14.6% in the second quarter. Foundations Investment Advisors LLC now owns 1,664 shares of the aerospace company’s stock valued at $304,000 after acquiring an additional 212 shares during the period. Finally, WINTON GROUP Ltd boosted its holdings in shares of General Dynamics by 1,282.9% in the second quarter. WINTON GROUP Ltd now owns 17,577 shares of the aerospace company’s stock valued at $3,196,000 after acquiring an additional 16,306 shares during the period. 86.15% of the stock is owned by hedge funds and other institutional investors.

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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