General Dynamics (NYSE:GD) Issues Earnings Results

General Dynamics (NYSE:GD) posted its earnings results on Wednesday. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13), Briefing.com reports. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. General Dynamics updated its FY24 guidance to $14.00 EPS and its FY 2024 guidance to 14.000-14.000 EPS.

General Dynamics Price Performance

Shares of NYSE GD traded up $1.25 during midday trading on Friday, reaching $302.52. 1,405,397 shares of the stock traded hands, compared to its average volume of 1,095,718. The company’s 50 day moving average is $300.40 and its 200 day moving average is $294.67. General Dynamics has a one year low of $236.58 and a one year high of $313.11. The stock has a market capitalization of $83.00 billion, a PE ratio of 24.68, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Ratings Changes

GD has been the subject of several research analyst reports. Susquehanna raised their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $323.88.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

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.