Zacks: Analysts Anticipate General Dynamics (GD) Will Post Quarterly Sales of $9.14 Billion

Analysts predict that General Dynamics (NYSE:GD) will report $9.14 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for General Dynamics’ earnings, with estimates ranging from $9.10 billion to $9.20 billion. General Dynamics posted sales of $7.68 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 19%. The company is expected to issue its next quarterly earnings report on Wednesday, July 25th.

On average, analysts expect that General Dynamics will report full-year sales of $35.97 billion for the current year, with estimates ranging from $35.96 billion to $36.00 billion. For the next financial year, analysts forecast that the business will report sales of $39.10 billion per share, with estimates ranging from $38.95 billion to $39.19 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover General Dynamics.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 25th. The aerospace company reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.16. General Dynamics had a net margin of 9.49% and a return on equity of 26.83%. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter last year, the company earned $2.48 earnings per share. The firm’s revenue was up .8% on a year-over-year basis.

GD has been the subject of several research reports. Royal Bank of Canada set a $246.00 target price on shares of General Dynamics and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group increased their target price on shares of General Dynamics to $247.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. They noted that the move was a valuation call. Credit Suisse Group increased their target price on shares of General Dynamics from $238.00 to $259.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Citigroup increased their target price on shares of General Dynamics from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, Wells Fargo increased their target price on shares of General Dynamics from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $242.72.

Shares of General Dynamics traded up $0.76, hitting $202.52, during mid-day trading on Thursday, according to MarketBeat Ratings. The company had a trading volume of 2,016,935 shares, compared to its average volume of 1,925,823. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.98 and a current ratio of 1.34. General Dynamics has a 12 month low of $191.00 and a 12 month high of $230.00. The stock has a market cap of $60.16 billion, a PE ratio of 20.35, a PEG ratio of 1.97 and a beta of 0.84.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Shareholders of record on Friday, April 13th were paid a dividend of $0.93 per share. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date was Thursday, April 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is currently 37.39%.

In other news, Director Lester L. Lyles sold 5,210 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $220.73, for a total transaction of $1,150,003.30. Following the completion of the sale, the director now owns 12,537 shares of the company’s stock, valued at $2,767,292.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider S. Daniel Johnson sold 3,933 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $228.79, for a total transaction of $899,831.07. Following the sale, the insider now directly owns 66,363 shares of the company’s stock, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,253 shares of company stock valued at $4,322,831. Corporate insiders own 6.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stonebridge Capital Management Inc. increased its holdings in shares of General Dynamics by 0.7% in the fourth quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock valued at $6,776,000 after purchasing an additional 223 shares in the last quarter. Advisor Partners LLC increased its holdings in shares of General Dynamics by 4.4% in the fourth quarter. Advisor Partners LLC now owns 5,412 shares of the aerospace company’s stock valued at $1,132,000 after purchasing an additional 229 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in shares of General Dynamics by 5.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 4,782 shares of the aerospace company’s stock valued at $973,000 after purchasing an additional 229 shares in the last quarter. Clear Perspective Advisors LLC increased its holdings in shares of General Dynamics by 8.1% in the fourth quarter. Clear Perspective Advisors LLC now owns 3,355 shares of the aerospace company’s stock valued at $683,000 after purchasing an additional 252 shares in the last quarter. Finally, FTB Advisors Inc. increased its holdings in shares of General Dynamics by 4.1% in the fourth quarter. FTB Advisors Inc. now owns 6,481 shares of the aerospace company’s stock valued at $1,318,000 after purchasing an additional 258 shares in the last quarter. 85.74% of the stock is owned by institutional investors.

About General Dynamics

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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