Wall Street analysts expect that General Dynamics Co. (NYSE:GD) will announce $9.82 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for General Dynamics’ earnings. The highest sales estimate is $9.84 billion and the lowest is $9.80 billion. General Dynamics reported sales of $9.43 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 27th.
On average, analysts expect that General Dynamics will report full-year sales of $39.34 billion for the current fiscal year, with estimates ranging from $39.19 billion to $39.45 billion. For the next financial year, analysts forecast that the business will post sales of $40.80 billion, with estimates ranging from $40.65 billion to $41.10 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow General Dynamics.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 28th. The aerospace company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.23 billion. General Dynamics had a return on equity of 21.50% and a net margin of 8.52%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prospera Financial Services Inc boosted its stake in General Dynamics by 8,915.9% during the second quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company’s stock valued at $2,169,000 after buying an additional 1,873,052 shares during the period. Boston Partners lifted its stake in shares of General Dynamics by 63.9% in the 1st quarter. Boston Partners now owns 2,641,835 shares of the aerospace company’s stock valued at $479,798,000 after acquiring an additional 1,030,217 shares during the last quarter. Cullen Capital Management LLC increased its holdings in General Dynamics by 331.4% during the 1st quarter. Cullen Capital Management LLC now owns 667,299 shares of the aerospace company’s stock valued at $121,155,000 after purchasing an additional 512,609 shares during the period. JPMorgan Chase & Co. increased its holdings in General Dynamics by 6.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,601,588 shares of the aerospace company’s stock valued at $1,198,584,000 after purchasing an additional 421,493 shares during the period. Finally, Prudential Financial Inc. increased its holdings in General Dynamics by 63.3% during the 2nd quarter. Prudential Financial Inc. now owns 981,791 shares of the aerospace company’s stock valued at $184,832,000 after purchasing an additional 380,388 shares during the period. Institutional investors own 85.22% of the company’s stock.
Shares of GD traded down $2.76 during mid-day trading on Tuesday, hitting $196.66. The company’s stock had a trading volume of 996,207 shares, compared to its average volume of 1,121,216. General Dynamics has a one year low of $129.17 and a one year high of $206.46. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.05 and a current ratio of 1.44. The firm has a market capitalization of $54.97 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. The stock’s 50-day moving average is $196.33 and its two-hundred day moving average is $189.04.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 8th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, October 7th. General Dynamics’s dividend payout ratio is currently 43.27%.
General Dynamics declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 2nd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
About General Dynamics
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.