General Dynamics Co. (NYSE:GD) Announces $1.50 Quarterly Dividend

General Dynamics Co. (NYSE:GD - Get Free Report) announced a quarterly dividend on Wednesday, June 4th, RTT News reports. Investors of record on Thursday, July 3rd will be paid a dividend of 1.50 per share by the aerospace company on Friday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, July 3rd.

General Dynamics has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Dynamics to earn $17.14 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 35.0%.

General Dynamics Price Performance

GD stock traded up $2.01 during trading on Friday, reaching $276.43. 647,047 shares of the company were exchanged, compared to its average volume of 1,381,355. The company has a 50-day moving average of $272.69 and a two-hundred day moving average of $266.71. The company has a market capitalization of $74.19 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.69 and a beta of 0.49. General Dynamics has a twelve month low of $239.20 and a twelve month high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. As a group, equities analysts predict that General Dynamics will post 14.83 earnings per share for the current fiscal year.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in General Dynamics stock. Brighton Jones LLC grew its position in General Dynamics Co. (NYSE:GD - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,885 shares of the aerospace company's stock after purchasing an additional 417 shares during the period. Brighton Jones LLC's holdings in General Dynamics were worth $760,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. BTIG Research lowered shares of General Dynamics from a "buy" rating to a "neutral" rating in a report on Thursday, February 13th. William Blair lowered shares of General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Cowen reissued a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $293.00.

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.