General Dynamics Co. to Post Q1 2024 Earnings of $2.77 Per Share, Seaport Res Ptn Forecasts (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities research analysts at Seaport Res Ptn dropped their Q1 2024 earnings estimates for General Dynamics in a report issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will earn $2.77 per share for the quarter, down from their prior estimate of $3.23. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. Seaport Res Ptn also issued estimates for General Dynamics’ Q2 2024 earnings at $3.46 EPS and Q4 2024 earnings at $4.47 EPS.

A number of other analysts have also recently issued reports on GD. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Susquehanna increased their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. UBS Group increased their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Barclays increased their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $285.63.

General Dynamics Stock Performance

Shares of NYSE GD opened at $284.97 on Wednesday. The firm has a fifty day moving average price of $280.56 and a 200-day moving average price of $261.39. 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 stock has a market cap of $78.19 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.68. General Dynamics has a 1 year low of $202.35 and a 1 year high of $296.50.

General Dynamics (NYSE:GD) last announced its 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 net margin of 7.84% and a return on equity of 16.61%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the prior year, the company posted $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.99%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 47.25%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction 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 $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Several institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its position in General Dynamics by 27.1% during the first quarter. Lindbrook Capital LLC now owns 1,102 shares of the aerospace company’s stock valued at $311,000 after purchasing an additional 235 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of General Dynamics by 5.1% in the first quarter. New York State Teachers Retirement System now owns 230,822 shares of the aerospace company’s stock valued at $65,205,000 after acquiring an additional 11,251 shares during the period. WCM Investment Management LLC raised its stake in shares of General Dynamics by 7.6% in the first quarter. WCM Investment Management LLC now owns 1,134 shares of the aerospace company’s stock valued at $320,000 after acquiring an additional 80 shares during the period. Smith Chas P & Associates PA Cpas raised its stake in shares of General Dynamics by 11.8% in the first quarter. Smith Chas P & Associates PA Cpas now owns 114,155 shares of the aerospace company’s stock valued at $32,248,000 after acquiring an additional 12,027 shares during the period. Finally, Glassy Mountain Advisors Inc. raised its stake in shares of General Dynamics by 1.9% in the first quarter. Glassy Mountain Advisors Inc. now owns 20,670 shares of the aerospace company’s stock valued at $5,839,000 after acquiring an additional 377 shares during the period. Institutional investors own 86.14% of the company’s stock.

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.