General Dynamics Co. (NYSE:GD) Forecasted to Post Q2 2024 Earnings of $3.31 Per Share

General Dynamics Co. (NYSE:GD) – William Blair lowered their Q2 2024 earnings per share estimates for General Dynamics in a research note issued on Wednesday, April 24th. William Blair analyst L. Dipalma now expects that the aerospace company will earn $3.31 per share for the quarter, down from their previous estimate of $3.51. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. William Blair also issued estimates for General Dynamics’ Q3 2024 earnings at $3.98 EPS and FY2025 earnings at $16.43 EPS.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $2.64 EPS.

GD has been the topic of a number of other reports. Barclays boosted their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research note on Monday, January 29th. Susquehanna increased their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Finally, Citigroup raised their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $285.63.

General Dynamics Trading Down 0.2 %

NYSE GD opened at $284.41 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The stock has a market capitalization of $78.03 billion, a P/E ratio of 23.20, a PEG ratio of 1.79 and a beta of 0.68. The firm’s 50-day moving average is $280.86 and its two-hundred day moving average is $261.71. General Dynamics has a 12 month low of $202.35 and a 12 month high of $296.50.

Hedge Funds Weigh In On General Dynamics

Hedge funds have recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at about $25,000. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics during the third quarter worth about $27,000. Finally, Impact Partnership Wealth LLC increased its position in General Dynamics by 411.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company Profile

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.