William Blair Cuts Earnings Estimates for General Dynamics

General Dynamics Co. (NYSE:GD - Free Report) - William Blair cut their FY2024 earnings per share estimates for General Dynamics in a research note issued to investors on Wednesday, October 23rd. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings per share of $14.00 for the year, down from their prior forecast of $14.46. The consensus estimate for General Dynamics' current full-year earnings is $14.38 per share.

GD has been the topic of a number of other research reports. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research note on Thursday. Robert W. Baird reissued an "outperform" rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Seaport Res Ptn cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $323.88.

General Dynamics Stock Up 0.4 %

NYSE:GD traded up $1.25 during mid-day trading on Friday, hitting $302.52. 1,404,138 shares of the company's stock traded hands, compared to its average volume of 1,095,718. The company has a fifty day moving average of $300.28 and a 200 day moving average of $294.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics has a twelve month low of $236.58 and a twelve month high of $313.11. The company has a market capitalization of $83.00 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the business earned $3.04 earnings per share. General Dynamics's revenue was up 10.4% on a year-over-year basis.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics's dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company's stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company's stock valued at $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company's stock worth $96,148,000 after purchasing an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company's stock worth $2,216,599,000 after buying an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company's stock valued at $391,119,000 after buying an additional 262,164 shares during the last quarter. Hedge funds and other 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.