Zacks Research Research Analysts Lift Earnings Estimates for General Dynamics Co. (NYSE:GD)

General Dynamics Co. (NYSE:GD - Free Report) - Research analysts at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for General Dynamics in a report issued on Tuesday, May 14th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings of $3.30 per share for the quarter, up from their prior forecast of $3.23. The consensus estimate for General Dynamics' current full-year earnings is $14.55 per share. Zacks Research also issued estimates for General Dynamics' Q3 2024 earnings at $3.82 EPS, Q4 2024 earnings at $4.45 EPS, Q2 2025 earnings at $4.03 EPS, Q4 2025 earnings at $4.60 EPS and Q1 2026 earnings at $4.49 EPS.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share 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 company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the business earned $2.64 earnings per share. General Dynamics's quarterly revenue was up 8.6% on a year-over-year basis.

Several other equities research analysts also recently issued reports on GD. Barclays raised their price target on General Dynamics from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. UBS Group lifted their price target on General Dynamics from $286.00 to $296.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. The Goldman Sachs Group increased their price objective on General Dynamics from $253.00 to $284.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. Argus boosted their target price on shares of General Dynamics from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an "overweight" rating in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $300.53.

General Dynamics Stock Performance

NYSE:GD traded up $0.54 during midday trading on Wednesday, reaching $294.60. The stock had a trading volume of 752,339 shares, compared to its average volume of 1,097,192. The stock has a market capitalization of $80.83 billion, a P/E ratio of 24.04, a PEG ratio of 1.83 and a beta of 0.67. 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 1-year low of $202.35 and a 1-year high of $297.88. The firm's fifty day simple moving average is $285.33 and its 200-day simple moving average is $266.49.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in General Dynamics in the fourth quarter valued at about $728,284,000. Wellington Management Group LLP increased its stake in shares of General Dynamics by 12.0% in the 3rd 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. International Assets Investment Management LLC boosted its stake in General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company's stock worth $239,829,000 after acquiring an additional 915,091 shares during the last quarter. Verity & Verity LLC acquired a new position in General Dynamics during the first quarter valued at approximately $179,000. Finally, 1832 Asset Management L.P. increased its stake in General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company's stock valued at $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the company's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares of the company's stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders have sold a total of 93,053 shares of company stock valued at $26,827,518 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, April 11th. This is an increase 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.