General Dynamics (NYSE:GD) issued its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.09, MarketWatch Earnings reports. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 earnings per share. General Dynamics updated its FY19 guidance to $11.60-11.70 EPS.
NYSE:GD opened at $173.48 on Thursday. The firm has a market cap of $51.32 billion, a PE ratio of 15.19, a PEG ratio of 1.60 and a beta of 1.16. General Dynamics has a 52-week low of $143.87 and a 52-week high of $230.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.83.
The company also recently declared a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Friday, January 18th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 32.57%.
In other news, VP Christopher J. Brady sold 2,327 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $171.23, for a total value of $398,452.21. Following the completion of the sale, the vice president now directly owns 5,134 shares in the company, valued at approximately $879,094.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine B. Reynolds acquired 600 shares of the stock in a transaction that occurred on Friday, December 7th. The shares were bought at an average price of $167.64 per share, with a total value of $100,584.00. Following the completion of the purchase, the director now owns 1,153 shares in the company, valued at $193,288.92. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of General Dynamics from $209.00 to $189.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 14th. Barclays decreased their price target on General Dynamics from $256.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. Cowen reissued a “buy” rating and issued a $253.00 target price on shares of General Dynamics in a report on Wednesday, October 24th. Wells Fargo & Co reduced their target price on General Dynamics from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Finally, Zacks Investment Research raised General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $208.23.
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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.
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