General Dynamics Co. to Post Q3 2024 Earnings of $4.02 Per Share, William Blair Forecasts (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities research analysts at William Blair increased their Q3 2024 EPS estimates for General Dynamics in a note issued to investors on Wednesday, July 24th. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings per share of $4.02 for the quarter, up from their previous estimate of $3.98. The consensus estimate for General Dynamics’ current full-year earnings is $14.52 per share.

A number of other equities research analysts also recently weighed in on the company. Argus lifted their target price on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $335.00 in a report on Monday, April 29th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Sanford C. Bernstein lifted their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $311.33.

General Dynamics Stock Down 0.2 %

GD stock opened at $290.40 on Friday. General Dynamics has a twelve month low of $214.53 and a twelve month high of $302.75. The company has a market cap of $79.80 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.67 and a beta of 0.60. The business’s 50-day simple moving average is $292.65 and its 200 day simple moving average is $282.38. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share.

Institutional Trading of General Dynamics

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares during the last quarter. Sanders Capital LLC boosted its holdings in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after purchasing an additional 147,800 shares during the last quarter. Norges Bank bought a new stake in shares of General Dynamics in the fourth quarter valued at approximately $728,284,000. Northern Trust Corp raised its position in shares of General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after purchasing an additional 24,395 shares during the period. Finally, Boston Partners increased its holdings in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics 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 value of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the sale, the vice president now owns 16,624 shares in the company, valued at approximately $4,901,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,636 shares of company stock valued at $20,209,317. 1.52% of the stock is owned by company insiders.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. General Dynamics’s payout ratio 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.