General Dynamics (NYSE:GD - Get Free Report) announced its quarterly earnings data 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. The firm had revenue of $11.67 billion for the quarter, compared to analysts' expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 EPS. General Dynamics updated its FY24 guidance to $14.00 EPS and its FY 2024 guidance to 14.000-14.000 EPS.
General Dynamics Stock Performance
Shares of GD traded down $3.13 on Thursday, reaching $301.27. The company's stock had a trading volume of 1,115,694 shares, compared to its average volume of 1,093,167. General Dynamics has a 12-month low of $236.58 and a 12-month high of $313.11. The stock has a market capitalization of $82.66 billion, a P/E ratio of 24.57, a PEG 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. The stock's 50 day simple moving average is $300.17 and its two-hundred day simple moving average is $294.55.
General Dynamics Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, October 11th. General Dynamics's dividend payout ratio (DPR) is presently 46.33%.
Insiders Place Their Bets
In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a "buy" rating and a $345.00 price objective on the stock. Robert W. Baird restated an "outperform" rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Susquehanna increased their target price on General Dynamics from $333.00 to $352.00 and gave the stock a "positive" rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $320.00 to $314.00 and set a "hold" rating for the company 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 stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $322.76.
View Our Latest Analysis on GD
About General Dynamics
(
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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.
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