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.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter last year, the company earned $2.36 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. sell-side analysts predict that General Dynamics will post 9.81 earnings per share for the current year.

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.

Dividend History for General Dynamics (NYSE:GD)

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