General Dynamics (NYSE:GD – Get Free Report) issued its quarterly earnings data on Wednesday. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04), Briefing.com reports. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 EPS. General Dynamics updated its FY24 guidance to $14.40-14.50 EPS.
General Dynamics Trading Up 0.0 %
NYSE GD traded up $0.13 during trading on Friday, hitting $291.11. 563,340 shares of the company’s stock traded hands, compared to its average volume of 1,068,868. The stock has a fifty day moving average of $292.82 and a two-hundred day moving average of $281.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.87. General Dynamics has a 12-month low of $214.53 and a 12-month high of $302.75. The firm has a market cap of $79.87 billion, a P/E ratio of 23.75, a PEG ratio of 1.63 and a beta of 0.60.
General Dynamics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.95%. General Dynamics’s payout ratio is 46.33%.
Insider Buying and Selling at General Dynamics
Analyst Ratings Changes
GD has been the topic of several research reports. Barclays upped their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Citigroup upped their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Morgan Stanley upped their target price on shares of General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Finally, The Goldman Sachs Group upped their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $311.33.
Read Our Latest Stock Report on General Dynamics
About General Dynamics
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.
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