Q2 2024 Earnings Forecast for General Dynamics Co. Issued By William Blair (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Stock analysts at William Blair cut their Q2 2024 earnings estimates for shares of General Dynamics in a research note issued to investors on Wednesday, April 24th. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings per share of $3.31 for the quarter, down from their prior estimate of $3.51. The consensus estimate for General Dynamics’ current full-year earnings is $14.56 per share. William Blair also issued estimates for General Dynamics’ Q3 2024 earnings at $3.98 EPS and FY2025 earnings at $16.43 EPS.

Several other analysts have also commented on the stock. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Citigroup raised their target price on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group upped their price target on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.43.

General Dynamics Trading Down 0.2 %

GD opened at $284.41 on Friday. General Dynamics has a 12 month low of $202.35 and a 12 month high of $296.50. The stock has a fifty day moving average price of $280.86 and a 200-day moving average price of $261.88. The firm has a market cap of $78.03 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.81 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.64 EPS.

Institutional Investors Weigh In On General Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in GD. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at approximately $25,000. Briaud Financial Planning Inc acquired a new stake in General Dynamics in the 3rd quarter valued at $27,000. Finally, Impact Partnership Wealth LLC raised its position in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is presently 46.33%.

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.