Seaport Res Ptn Research Analysts Lower Earnings Estimates for General Dynamics Co. (NYSE:GD)

General Dynamics Co. (NYSE:GD - Free Report) - Equities researchers at Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for shares of General Dynamics in a report issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will earn $14.46 per share for the year, down from their prior forecast of $14.60. The consensus estimate for General Dynamics' current full-year earnings is $14.57 per share.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.68 by ($0.04). The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.39 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.58 earnings per share.

GD has been the topic of several other reports. Citigroup upped their price target on General Dynamics from $283.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. Alembic Global Advisors lowered General Dynamics from an "overweight" rating to a "neutral" rating and set a $296.00 price target on the stock. in a research report on Monday, January 29th. Barclays upped their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. StockNews.com downgraded General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 3rd. Finally, UBS Group upped their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a "neutral" rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, General Dynamics presently has an average rating of "Moderate Buy" and a consensus target price of $283.80.

General Dynamics Stock Performance

Shares of GD stock traded up $1.39 on Tuesday, hitting $292.70. 1,132,059 shares of the stock traded hands, compared to its average volume of 1,066,708. 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 company has a market capitalization of $80.31 billion, a PE ratio of 24.24, a PEG ratio of 1.83 and a beta of 0.68. General Dynamics has a 1-year low of $202.35 and a 1-year high of $296.50. The company's fifty day moving average is $279.51 and its 200 day moving average is $260.57.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from General Dynamics's previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics's dividend payout ratio (DPR) is 47.25%.

Insider Activity

In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares of the company's stock, valued at $39,502,023.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares of the company's stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds and other institutional investors have recently modified their holdings of GD. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the 1st quarter worth about $25,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the 1st quarter valued at about $29,000. Finally, Legend Financial Advisors Inc. lifted its holdings in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company's stock valued at $32,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

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.