General Dynamics Co. (NYSE:GD) Declares $1.42 Quarterly Dividend

by · The Markets Daily

General Dynamics Co. (NYSE:GD – Get Free Report) declared a quarterly dividend on Wednesday, August 7th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, October 11th.

General Dynamics has increased its dividend payment by an average of 6.5% per year 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. Equities 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 Stock Performance

GD stock opened at $298.69 on Thursday. The firm has a market cap of $81.95 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics has a twelve month low of $232.29 and a twelve month high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $297.51 and its two-hundred day simple moving average is $293.32.

General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 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 quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.70 EPS. Analysts predict that General Dynamics will post 14.52 earnings per share for the current year.

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 dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.06.

Check Out Our Latest Analysis on GD

About General Dynamics

(Get Free Report)

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.

See Also