General Dynamics (NYSE:GD) Releases FY 2024 Earnings Guidance

General Dynamics (NYSE:GD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 14.000-14.000 for the period, compared to the consensus estimate of 14.180. The company issued revenue guidance of $48.0 billion-$48.0 billion, compared to the consensus revenue estimate of $47.6 billion. General Dynamics also updated its FY24 guidance to $14.00 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GD shares. Susquehanna upped their price objective 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. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Citigroup boosted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $322.76.

General Dynamics Trading Down 1.0 %

GD traded down $3.13 during trading on Thursday, reaching $301.27. 1,113,867 shares of the stock traded hands, compared to its average volume of 1,093,167. The stock’s 50-day moving average is $300.17 and its 200 day moving average is $294.55. General Dynamics has a 12 month low of $236.58 and a 12 month high of $313.11. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $82.66 billion, a PE ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate 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 business earned $3.04 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts anticipate that General Dynamics will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced 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 dividend yield of 1.89%. General Dynamics’s payout ratio is presently 46.33%.

Insider Buying and Selling

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

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.