Q2 2024 EPS Estimates for General Dynamics Co. Lowered by Analyst (NYSE:GD)

General Dynamics Co. (NYSE:GD - Free Report) - Analysts at William Blair reduced their Q2 2024 earnings per share estimates for shares of General Dynamics in a research report issued to clients and investors 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 prior 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period in the previous year, the business posted $2.64 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year.

Several other analysts also recently issued reports on GD. Royal Bank of Canada reduced their price target on shares of General Dynamics from $325.00 to $320.00 and set an "outperform" rating for the company in a research report on Thursday. Citigroup raised their price objective on General Dynamics from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the company a "neutral" rating in a research note on Monday, January 29th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Finally, Alembic Global Advisors cut General Dynamics from an "overweight" rating to a "neutral" rating and set a $296.00 price objective on the stock. in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, General Dynamics has an average rating of "Moderate Buy" and an average target price of $285.63.

General Dynamics Stock Down 0.2 %

NYSE GD traded down $0.49 during mid-day trading on Friday, hitting $284.41. The company's stock had a trading volume of 1,239,528 shares, compared to its average volume of 1,114,716. The company's 50 day simple moving average is $280.56 and its 200 day simple moving average is $261.39. General Dynamics has a twelve month low of $202.35 and a twelve month high of $296.50. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $78.03 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.79 and a beta of 0.68.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GD. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics during the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the first quarter worth 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 grew its holdings in shares of General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company's stock worth $29,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated 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 sale, the chief executive officer now owns 773,977 shares of the company's stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 2.00%. This is a positive change from General Dynamics's previous quarterly dividend of $1.32. General Dynamics's dividend payout ratio (DPR) is 46.33%.

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.