General Dynamics Co. (NYSE:GD) to Post FY2024 Earnings of $14.51 Per Share, William Blair Forecasts

General Dynamics Co. (NYSE:GD) – Equities research analysts at William Blair increased their FY2024 earnings per share estimates for shares of General Dynamics in a research note issued on Wednesday, April 24th. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings of $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.

Several other analysts also recently commented on GD. Citigroup increased their price objective on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group increased their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $293.43.

General Dynamics Stock Down 0.2 %

Shares of NYSE:GD opened at $284.41 on Monday. The business’s 50-day moving average is $280.86 and its 200-day moving average is $262.05. General Dynamics has a 1 year low of $202.35 and a 1 year high of $296.50. 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 company has a market capitalization of $78.03 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last released its quarterly 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). The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 EPS.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.00%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 46.33%.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter worth $25,000. MeadowBrook Investment Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics in the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics in the first quarter worth $29,000. Finally, Legend Financial Advisors Inc. boosted its holdings in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. 86.14% of the stock is owned by institutional investors.

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.