Seaport Res Ptn Comments on General Dynamics Co.’s FY2024 Earnings (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Research analysts at Seaport Res Ptn cut their FY2024 EPS estimates for General Dynamics in a research note issued on Monday, April 22nd. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will post earnings of $14.46 per share for the year, down from their previous forecast of $14.60. The consensus estimate for General Dynamics’ current full-year earnings is $14.57 per share.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same quarter in the prior year, the firm earned $3.58 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis.

Several other brokerages also recently commented on GD. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. The Goldman Sachs Group upped their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. 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. Susquehanna upped their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada upped their price target on shares of General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.80.

General Dynamics Stock Up 0.5 %

Shares of GD opened at $292.70 on Tuesday. General Dynamics has a one year low of $202.35 and a one year high of $296.50. The company has a market cap of $80.31 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.83 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 0.92. The firm has a 50 day simple moving average of $280.02 and a two-hundred day simple moving average of $261.08.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. General Dynamics’s payout ratio is currently 47.25%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s 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 sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GD. Pacer Advisors Inc. raised its holdings in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after acquiring an additional 14,468 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of General Dynamics in the 3rd quarter worth about $16,077,000. Moreno Evelyn V raised its holdings in shares of General Dynamics by 17.1% in the 3rd quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock worth $6,035,000 after acquiring an additional 3,991 shares during the last quarter. Clough Capital Partners L P acquired a new stake in shares of General Dynamics in the 3rd quarter worth about $26,868,000. Finally, Victory Capital Management Inc. raised its holdings in shares of General Dynamics by 57.7% in the 3rd quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock worth $72,063,000 after acquiring an additional 119,264 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

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.