General Dynamics Co. Expected to Earn FY2024 Earnings of $14.51 Per Share (NYSE:GD)

General Dynamics Co. (NYSE:GD - Free Report) - William Blair increased their FY2024 earnings estimates for shares of General Dynamics in a report released on Wednesday, April 24th. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings of $14.51 per share for the year, up from their previous estimate of $14.39. The consensus estimate for General Dynamics' current full-year earnings is $14.57 per share. William Blair also issued estimates for General Dynamics' Q4 2024 earnings at $4.33 EPS.

A number of other research analysts have also recently commented on GD. Barclays raised their price target on General Dynamics from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $280.00 to $298.00 and gave the company an "overweight" rating in a research report on Thursday. Alembic Global Advisors downgraded shares of General Dynamics from an "overweight" rating to a "neutral" rating and set a $296.00 price target for the company. in a report on Monday, January 29th. Citigroup lifted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Argus upped their target price on General Dynamics from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.06.

General Dynamics Price Performance

General Dynamics stock traded up $3.38 during mid-day trading on Monday, reaching $287.79. 1,293,625 shares of the company were exchanged, compared to its average volume of 1,116,899. The company has a fifty day simple moving average of $281.23 and a 200-day simple moving average of $262.41. The firm has a market cap of $78.96 billion, a PE ratio of 23.47, a PEG ratio of 1.77 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. General Dynamics has a 12 month low of $202.35 and a 12 month high of $296.50.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts' consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the business posted $2.64 earnings per share. General Dynamics's revenue was up 8.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company's stock worth $4,955,023,000 after buying an additional 133,061 shares during the period. Wellington Management Group LLP boosted its holdings in General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company's stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. Sanders Capital LLC increased its position in General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company's stock valued at $1,081,488,000 after purchasing an additional 147,800 shares during the period. Norges Bank bought a new position in General Dynamics during the 4th quarter worth approximately $728,284,000. Finally, FMR LLC lifted its position in shares of General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company's stock worth $506,744,000 after purchasing an additional 275,947 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from General Dynamics's previous quarterly dividend of $1.32. General Dynamics's dividend payout ratio is presently 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.