Wall Street brokerages expect that General Dynamics Co. (NYSE:GD) will post $7.54 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for General Dynamics’ earnings. The lowest sales estimate is $7.45 billion and the highest is $7.63 billion. General Dynamics reported sales of $7.44 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that General Dynamics will report full year sales of $7.54 billion for the current financial year, with estimates ranging from $32.38 billion to $35.03 billion. For the next fiscal year, analysts expect that the firm will report sales of $35.46 billion per share, with estimates ranging from $33.84 billion to $39.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover General Dynamics.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.13. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. General Dynamics’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS.
GD has been the subject of several research analyst reports. Cowen reiterated a “buy” rating and issued a $253.00 price objective on shares of General Dynamics in a research note on Monday. ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research note on Friday, January 19th. Jefferies Group reiterated a “buy” rating and issued a $237.00 price objective on shares of General Dynamics in a research note on Monday, January 8th. Finally, Royal Bank of Canada lifted their price objective on shares of General Dynamics to $267.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. General Dynamics currently has an average rating of “Hold” and a consensus price target of $239.04.
In other news, VP Gary L. Whited sold 5,977 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total value of $1,341,956.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S. Daniel Johnson sold 3,933 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares of the company’s stock, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. Insiders have sold a total of 30,357 shares of company stock valued at $6,715,463 in the last 90 days. 6.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chemical Bank grew its stake in shares of General Dynamics by 5.7% in the 4th quarter. Chemical Bank now owns 9,912 shares of the aerospace company’s stock worth $2,017,000 after acquiring an additional 535 shares in the last quarter. Ackerman Capital Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth $329,000. Wagner Wealth Management LLC bought a new stake in shares of General Dynamics in the 4th quarter worth $164,000. D.B. Root & Company LLC bought a new stake in shares of General Dynamics in the 4th quarter worth $254,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of General Dynamics by 10.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 66,368 shares of the aerospace company’s stock worth $13,503,000 after acquiring an additional 6,550 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.
NYSE:GD opened at $218.22 on Friday. The firm has a market capitalization of $63,677.41, a PE ratio of 21.93, a P/E/G ratio of 2.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99. General Dynamics has a twelve month low of $185.64 and a twelve month high of $230.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, April 12th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s payout ratio is 33.77%.
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General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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