Zacks Research Has Negative Forecast for GD FY2024 Earnings

General Dynamics Co. (NYSE:GD - Free Report) - Stock analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for General Dynamics in a report released on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the aerospace company will post earnings of $14.00 per share for the year, down from their prior forecast of $14.44. The consensus estimate for General Dynamics' current full-year earnings is $13.97 per share. Zacks Research also issued estimates for General Dynamics' Q4 2024 earnings at $4.51 EPS, Q1 2025 earnings at $3.47 EPS, Q2 2025 earnings at $3.73 EPS, Q3 2025 earnings at $2.64 EPS, Q4 2025 earnings at $6.01 EPS, FY2025 earnings at $15.85 EPS and Q2 2026 earnings at $2.87 EPS.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year.

Several other analysts have also recently issued reports on GD. Seaport Res Ptn cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. TD Cowen upgraded General Dynamics to a "strong-buy" rating in a research report on Tuesday, October 8th. Susquehanna increased their price target on General Dynamics from $333.00 to $352.00 and gave the stock a "positive" rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $323.69.

General Dynamics Stock Down 1.5 %

Shares of NYSE:GD traded down $4.42 during trading on Friday, hitting $288.01. The company's stock had a trading volume of 1,997,319 shares, compared to its average volume of 1,100,860. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The stock's 50-day moving average price is $302.55 and its two-hundred day moving average price is $296.20. The company has a market capitalization of $79.19 billion, a PE ratio of 22.39, a PEG ratio of 1.90 and a beta of 0.61.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the 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 completion of the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Olstein Capital Management L.P. grew its position in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock worth $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock worth $11,204,000 after purchasing an additional 3,363 shares during the period. Lummis Asset Management LP lifted its stake in General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock worth $3,133,000 after purchasing an additional 2,551 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company's stock worth $177,881,000 after purchasing an additional 5,069 shares during the period. Finally, CWC Advisors LLC. bought a new position in General Dynamics during the third quarter worth about $771,000. 86.14% of the stock is owned by institutional investors and hedge funds.

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.