General Dynamics (NYSE:GD) Issues Quarterly Earnings Results

General Dynamics (NYSE:GD) issued its earnings results on Wednesday. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13), Briefing.com reports. The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. General Dynamics updated its FY24 guidance to $14.00 EPS and its FY 2024 guidance to 14.000-14.000 EPS.

General Dynamics Trading Up 0.4 %

NYSE:GD traded up $1.25 on Friday, hitting $302.52. The stock had a trading volume of 1,404,138 shares, compared to its average volume of 1,095,718. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.67 and a beta of 0.61. The company has a fifty day moving average price of $300.28 and a two-hundred day moving average price of $294.60. General Dynamics has a 1-year low of $236.58 and a 1-year high of $313.11.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on GD shares. Susquehanna raised their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Barclays lifted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $323.88.

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.