William Blair Analysts Boost Earnings Estimates for General Dynamics Co. (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Research analysts at William Blair increased their FY2024 EPS estimates for General Dynamics in a note issued to investors on Wednesday, April 24th. William Blair analyst L. Dipalma now anticipates that the aerospace company will earn $14.51 per share for the year, up from their prior forecast 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 issued reports on GD. The Goldman Sachs Group lifted 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. Royal Bank of Canada reduced their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Susquehanna increased their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Argus upped their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday. Finally, Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target for the company. in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $297.06.

General Dynamics Trading Down 0.2 %

Shares of NYSE GD opened at $287.16 on Monday. The stock has a market cap of $78.79 billion, a P/E ratio of 23.42, a price-to-earnings-growth 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 1 year low of $202.35 and a 1 year high of $296.50. The firm has a 50-day moving average of $281.59 and a 200 day moving average of $262.72.

General Dynamics (NYSE:GD) last released its quarterly 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 firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the prior year, the firm earned $2.64 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics during the 4th quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the 1st quarter worth approximately $25,000. Briaud Financial Planning Inc purchased a new position in General Dynamics during the 3rd quarter worth approximately $27,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on 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 directly owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders 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 is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.98%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.