General Dynamics (NYSE:GD) Issues FY24 Earnings Guidance

General Dynamics (NYSE:GD) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $14.00 for the period, compared to the consensus EPS estimate of $14.15.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GD shares. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Stock Down 1.1 %

Shares of GD traded down $3.30 during trading hours on Wednesday, hitting $302.69. 403,204 shares of the company were exchanged, compared to its average volume of 1,087,675. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The company has a market cap of $83.05 billion, a PE ratio of 24.95, a PEG ratio of 1.67 and a beta of 0.61. The firm’s 50 day moving average is $299.96 and its 200-day moving average is $294.48. General Dynamics has a 52 week low of $232.29 and a 52 week high of $312.47.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the company earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics will post 14.38 EPS for the current fiscal year.

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. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on 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 in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company 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.