Equities analysts expect General Dynamics Co. (NYSE:GD) to report sales of $9.45 billion for the current quarter, Zacks reports. Four analysts have made estimates for General Dynamics’ earnings, with the highest sales estimate coming in at $9.63 billion and the lowest estimate coming in at $9.35 billion. General Dynamics posted sales of $9.19 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The company is expected to issue its next earnings report on Wednesday, July 24th.
On average, analysts expect that General Dynamics will report full-year sales of $38.69 billion for the current year, with estimates ranging from $38.50 billion to $39.10 billion. For the next financial year, analysts anticipate that the business will post sales of $40.60 billion, with estimates ranging from $40.05 billion to $40.92 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for General Dynamics.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.18. The firm had revenue of $9.26 billion during the quarter, compared to analyst estimates of $8.90 billion. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 EPS.
Several analysts have recently weighed in on GD shares. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a research note on Monday, February 4th. Credit Suisse Group lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $190.00 to $184.00 in a research note on Friday, February 15th. UBS Group lifted their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, Argus lowered shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective for the company. in a research note on Thursday, January 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $198.29.
NYSE:GD opened at $167.72 on Thursday. The firm has a market capitalization of $48.53 billion, a PE ratio of 14.69, a P/E/G ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics has a twelve month low of $143.87 and a twelve month high of $208.88.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were given a $1.02 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $4.08 annualized dividend and a yield of 2.43%. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.
In other General Dynamics news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the transaction, the vice president now directly owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $172.42, for a total transaction of $789,683.60. Following the transaction, the director now directly owns 12,314 shares in the company, valued at $2,123,179.88. The disclosure for this sale can be found here. In the last three months, insiders sold 64,690 shares of company stock valued at $11,052,603. 7.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of GD. Financial Gravity Companies Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Harvest Group Wealth Management LLC bought a new stake in shares of General Dynamics during the 1st quarter worth $28,000. We Are One Seven LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $27,000. Aspire Private Capital LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $29,000. Finally, TCG Advisors LP bought a new stake in shares of General Dynamics during the 1st quarter worth $38,000. 86.41% of the stock is currently 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 in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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