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

General Dynamics (NYSE:GD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 14.000-14.000 for the period, compared to the consensus earnings per share 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 Stock Down 1.0 %

Shares of NYSE:GD traded down $3.13 during midday trading on Thursday, hitting $301.27. 1,113,867 shares of the company’s stock traded hands, compared to its average volume of 1,093,167. The firm’s fifty day moving average price is $300.17 and its two-hundred day moving average price is $294.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics has a twelve month low of $236.58 and a twelve month high of $313.11. The company has a market cap 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 issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. On average, equities research analysts anticipate that General Dynamics will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend 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 currently 46.33%.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein decreased their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday. Wells Fargo & Company upped their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays increased their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seven investment 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 stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.76.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.

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.