General Dynamics Co. (NYSE:GD) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Friday, January 18th will be given a dividend of 0.93 per share by the aerospace company on Friday, February 8th. This represents a $3.72 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, January 17th.
General Dynamics has raised its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. General Dynamics has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Dynamics to earn $12.07 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 30.8%.
NYSE:GD opened at $163.81 on Friday. General Dynamics has a 12-month low of $143.87 and a 12-month high of $230.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. The stock has a market capitalization of $47.65 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.29 and a beta of 1.09.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.13. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the prior year, the business posted $2.52 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. Equities analysts predict that General Dynamics will post 11.31 EPS for the current fiscal year.
In related news, Director Catherine B. Reynolds purchased 600 shares of the stock in a transaction that occurred on Friday, December 7th. The stock was acquired at an average price of $167.64 per share, with a total value of $100,584.00. Following the completion of the acquisition, the director now directly owns 1,153 shares in the company, valued at approximately $193,288.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the sale, the insider now directly owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. Cowen reissued a “buy” rating and issued a $253.00 price target on shares of General Dynamics in a research report on Monday, October 15th. Stifel Nicolaus dropped their price target on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Susquehanna Bancshares assumed coverage on shares of General Dynamics in a research report on Thursday. They issued a “neutral” rating and a $175.00 price target for the company. Finally, Credit Suisse Group dropped their price target on shares of General Dynamics from $229.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $220.32.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2019/01/12/general-dynamics-co-gd-to-issue-quarterly-dividend-of-0-93-on-february-8th.html.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
Featured Story: How to execute a trade ex-dividend strategy?
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.