General Dynamics Co. (NYSE:GD – Get Free Report) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Shareholders of record on Friday, October 11th will be paid a dividend of 1.42 per share by the aerospace company on Friday, November 15th. This represents a $5.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, October 11th.
General Dynamics has raised its dividend payment by an average of 6.5% annually over the last three years and has raised its dividend annually for the last 33 consecutive years. General Dynamics has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Dynamics to earn $16.38 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 34.7%.
General Dynamics Stock Performance
Shares of GD stock opened at $296.90 on Wednesday. General Dynamics has a 12-month low of $228.50 and a 12-month high of $309.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a market capitalization of $81.46 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The business has a 50 day simple moving average of $297.43 and a 200 day simple moving average of $293.21.
Insider Activity
In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.52% of the stock is owned by company insiders.
Analyst Ratings Changes
GD has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $334.00 to $317.00 in a research report on Tuesday, October 1st. Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $317.06.
View Our Latest Analysis on GD
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.
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