Analysts Offer Predictions for General Dynamics Co.’s Q2 2023 Earnings (NYSE:GD)

General Dynamics Co. (NYSE:GD – Get Rating) – Equities researchers at William Blair decreased their Q2 2023 earnings per share (EPS) estimates for General Dynamics in a research note issued to investors on Tuesday, May 23rd. William Blair analyst L. Dipalma now anticipates that the aerospace company will post earnings of $2.55 per share for the quarter, down from their previous forecast of $2.58. William Blair has a “Outperform” rating on the stock. The consensus estimate for General Dynamics’ current full-year earnings is $12.68 per share.

Several other brokerages have also issued reports on GD. Credit Suisse Group dropped their target price on General Dynamics from $239.00 to $220.00 in a research report on Thursday, April 27th. Royal Bank of Canada lowered their price target on General Dynamics from $280.00 to $270.00 in a report on Thursday, April 27th. Susquehanna lowered their price target on General Dynamics from $285.00 to $263.00 in a report on Thursday, January 26th. Robert W. Baird lowered their price target on General Dynamics from $268.00 to $242.00 in a report on Thursday, April 27th. Finally, Citigroup lowered their price target on General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a report on Thursday, January 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.69.

General Dynamics Stock Down 1.1 %

Shares of NYSE:GD opened at $204.35 on Thursday. General Dynamics has a 1 year low of $202.88 and a 1 year high of $256.86. The business has a 50 day simple moving average of $219.51 and a two-hundred day simple moving average of $232.82. The firm has a market capitalization of $56.06 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.39 and a quick ratio of 0.94.

General Dynamics (NYSE:GD – Get Rating) last announced its earnings results on Wednesday, April 26th. The aerospace company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.08. General Dynamics had a return on equity of 18.66% and a net margin of 8.50%. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the previous year, the business earned $2.61 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, April 14th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $5.28 dividend on an annualized basis and a yield of 2.58%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. General Dynamics’s dividend payout ratio is currently 43.17%.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm purchased 4,700 shares of General Dynamics stock in a transaction dated Tuesday, May 2nd. The shares were acquired at an average cost of $214.47 per share, with a total value of $1,008,009.00. Following the completion of the transaction, the director now owns 4,700 shares in the company, valued at approximately $1,008,009. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Hedge funds have recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $25,000. MADDEN SECURITIES Corp acquired a new stake in General Dynamics during the 4th quarter worth about $25,000. Certified Advisory Corp acquired a new stake in General Dynamics during the 1st quarter worth about $25,000. VitalStone Financial LLC acquired a new stake in General Dynamics during the 4th quarter worth about $26,000. Finally, Pacifica Partners Inc. grew its position in General Dynamics by 833.3% during the 1st quarter. Pacifica Partners Inc. now owns 112 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 100 shares during the period. 84.83% of the stock is owned by institutional investors and hedge funds.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.