William Blair Has Pessimistic Outlook of GD FY2024 Earnings

General Dynamics Co. (NYSE:GD) – Research analysts at William Blair lowered their FY2024 earnings per share estimates for shares of General Dynamics in a research report issued to clients and investors on Wednesday, October 23rd. William Blair analyst L. Dipalma now expects that the aerospace company will post earnings per share of $14.00 for the year, down from their prior estimate of $14.46. The consensus estimate for General Dynamics’ current full-year earnings is $14.38 per share.

GD has been the topic of a number of other reports. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna raised their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $323.88.

General Dynamics Trading Down 1.0 %

Shares of General Dynamics stock opened at $301.27 on Friday. The business has a 50 day moving average price of $300.17 and a 200 day moving average price of $294.55. The company has a market capitalization of $82.66 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics has a 1 year low of $236.58 and a 1 year high of $313.11.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the company earned $3.04 EPS. The company’s revenue was up 10.4% on a year-over-year basis.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.89%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the first quarter worth $25,000. MFA Wealth Advisors LLC lifted its stake in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the 1st quarter worth about $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics during the 2nd quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the third quarter worth about $30,000. 86.14% 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 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.