Research Analysts Issue Forecasts for General Dynamics Co.’s FY2024 Earnings (NYSE:GD)

General Dynamics Co. (NYSE:GD) – Equities research analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for General Dynamics in a report issued on Wednesday, April 24th. William Blair analyst L. Dipalma now forecasts that the aerospace company will post earnings of $14.51 per share for the year, up from their prior forecast of $14.39. The consensus estimate for General Dynamics’ current full-year earnings is $14.57 per share. William Blair also issued estimates for General Dynamics’ Q4 2024 earnings at $4.33 EPS.

General Dynamics (NYSE:GD) last announced its earnings results 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 firm had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. General Dynamics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 EPS.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Alembic Global Advisors downgraded shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a research note on Monday, January 29th. Finally, Argus increased their price target on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $297.06.

General Dynamics Price Performance

Shares of NYSE GD opened at $287.79 on Monday. The firm has a 50-day simple moving average of $281.23 and a 200-day simple moving average of $262.41. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $78.96 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.77 and a beta of 0.68. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50.

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 issued 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 1.97%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is presently 46.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GD. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at $25,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the 4th quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the 1st quarter valued at approximately $29,000. Finally, Legend Financial Advisors Inc. lifted its position in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.