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

General Dynamics (NYSE:GD) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

General Dynamics Price Performance

Shares of GD traded down $1.59 during trading hours on Wednesday, reaching $304.40. 1,506,576 shares of the company traded hands, compared to its average volume of 1,093,057. 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 $83.52 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics has a fifty-two week low of $232.29 and a fifty-two week high of $313.11. The stock has a fifty day simple moving average of $299.96 and a 200 day simple moving average of $294.48.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the business earned $2.70 EPS. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts predict that General Dynamics will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm 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 annualized dividend and a yield of 1.87%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analysts Set New Price Targets

A number of research firms have recently commented on GD. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.18.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’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 sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by company insiders.

About General Dynamics

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.