General Dynamics Corporation (GD) Declares Quarterly Dividend of $0.84
General Dynamics Corporation (NYSE:GD) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Stockholders of record on Friday, January 19th will be paid a dividend of 0.84 per share by the aerospace company on Friday, February 9th. This represents a $3.36 annualized dividend and a dividend yield of 1.68%.
General Dynamics has raised its dividend payment by an average of 20.9% per year over the last three years and has raised its dividend every year for the last 19 years. General Dynamics has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Dynamics to earn $10.55 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 31.8%.
General Dynamics (GD) traded down $1.78 during midday trading on Wednesday, hitting $199.91. 960,200 shares of the company traded hands, compared to its average volume of 1,149,203. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. General Dynamics has a twelve month low of $168.00 and a twelve month high of $214.81. The company has a market capitalization of $60,221.19, a PE ratio of 20.03, a PEG ratio of 2.42 and a beta of 0.72.
In related news, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
A number of research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of General Dynamics in a research note on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target for the company. BidaskClub upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Citigroup restated a “neutral” rating and set a $210.00 price target (up previously from $207.00) on shares of General Dynamics in a research note on Friday, August 11th. Jefferies Group restated a “buy” rating on shares of General Dynamics in a research note on Friday, August 11th. Finally, ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $218.45.
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General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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