General Dynamics Co. (NYSE:GD – Get Free Report) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Stockholders of record on Friday, October 11th will be given 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 increased its dividend every year for the last 33 years. General Dynamics has a payout ratio of 34.5% meaning 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 Price Performance
GD stock opened at $296.90 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock’s 50 day moving average price is $297.43 and its 200 day moving average price is $293.21. The firm has a market cap of $81.46 billion, a P/E ratio of 24.22, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics has a 1 year low of $228.50 and a 1 year high of $309.97.
Insider Buying and Selling at General Dynamics
In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on GD shares. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $317.06.
Read Our Latest Research Report on General Dynamics
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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