Research Analysts Set Expectations for GD FY2024 Earnings

General Dynamics Co. (NYSE:GD) – Analysts at Zacks Research cut their FY2024 earnings estimates for shares of General Dynamics in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings of $14.00 per share for the year, down from their previous forecast of $14.44. The consensus estimate for General Dynamics’ current full-year earnings is $13.97 per share. Zacks Research also issued estimates for General Dynamics’ Q4 2024 earnings at $4.51 EPS, Q1 2025 earnings at $3.47 EPS, Q2 2025 earnings at $3.73 EPS, Q3 2025 earnings at $2.64 EPS, Q4 2025 earnings at $6.01 EPS, FY2025 earnings at $15.85 EPS and Q2 2026 earnings at $2.87 EPS.

General Dynamics (NYSE:GD) last issued 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). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.04 EPS.

Other equities analysts have also issued reports about the stock. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Royal Bank of Canada upped their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays upped their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Price Performance

Shares of GD stock opened at $292.42 on Friday. General Dynamics has a 12-month low of $243.87 and a 12-month high of $316.90. The firm has a market capitalization of $80.41 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $302.64 and a 200-day moving average of $296.23.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

Several large investors have recently made changes to their positions in GD. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in General Dynamics in the first quarter valued at approximately $361,000. Mizuho Markets Americas LLC raised its stake in shares of General Dynamics by 98.6% during the first quarter. Mizuho Markets Americas LLC now owns 38,555 shares of the aerospace company’s stock valued at $10,891,000 after acquiring an additional 19,143 shares during the last quarter. First Foundation Advisors raised its stake in shares of General Dynamics by 28.1% during the first quarter. First Foundation Advisors now owns 1,376 shares of the aerospace company’s stock valued at $389,000 after acquiring an additional 302 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of General Dynamics by 2.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,778 shares of the aerospace company’s stock valued at $502,000 after acquiring an additional 44 shares during the last quarter. Finally, Nicolet Advisory Services LLC raised its stake in shares of General Dynamics by 4.8% during the first quarter. Nicolet Advisory Services LLC now owns 3,561 shares of the aerospace company’s stock valued at $1,029,000 after acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.