General Dynamics (GD) Set to Announce Quarterly Earnings on Wednesday

General Dynamics (NYSE:GD) is scheduled to be releasing its earnings data before the market opens on Wednesday, October 23rd. Analysts expect General Dynamics to post earnings of $3.76 per share for the quarter. General Dynamics has set its FY24 guidance at $14.40-14.50 EPS.Investors interested in registering for the company’s conference call can do so using this link.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. On average, analysts expect General Dynamics to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

General Dynamics Price Performance

Shares of GD opened at $308.22 on Tuesday. The firm has a market cap of $84.56 billion, a PE ratio of 25.14, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics has a 1-year low of $232.29 and a 1-year high of $310.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $299.68 and a two-hundred day simple moving average of $294.41.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Analyst Ratings Changes

Several equities research analysts have recently commented on GD shares. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred 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 owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.