Research Analysts Set Expectations for GD FY2024 Earnings

General Dynamics Co. (NYSE:GD) – Equities research analysts at Zacks Research dropped their FY2024 earnings estimates for General Dynamics in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings of $14.00 per share for the year, down from their previous estimate of $14.44. The consensus estimate for General Dynamics’ current full-year earnings is $13.97 per share. Zacks Research also issued estimates for General Dynamics’ Q4 2024 earnings at $4.51 EPS, Q1 2025 earnings at $3.47 EPS, Q2 2025 earnings at $3.73 EPS, Q3 2025 earnings at $2.64 EPS, Q4 2025 earnings at $6.01 EPS, FY2025 earnings at $15.85 EPS and Q2 2026 earnings at $2.87 EPS.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays boosted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Down 6.9 %

Shares of NYSE GD opened at $292.42 on Friday. The stock has a market capitalization of $80.41 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.90 and a beta of 0.61. The company has a 50-day moving average price of $302.64 and a 200-day moving average price of $296.23. General Dynamics has a 1 year low of $243.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the period. 1832 Asset Management L.P. lifted its position in General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares during the period. Public Employees Retirement Association of Colorado lifted its position in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC lifted its position in General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after acquiring an additional 262,164 shares during the period. Hedge funds and other institutional investors own 86.14% 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.