General Dynamics, a global aerospace and defense company, has recently been the subject of several reports and news articles. These reports have shed light on various aspects of the company’s performance and stock ratings from analysts.
One noteworthy report by Morgan Stanley raised their price target on General Dynamics shares from $248.00 to $250.00. This adjustment signifies the firm’s positive outlook on the company’s future prospects. Another report from Wells Fargo & Company highlighted a reduction in the target price for General Dynamics from $258.00 to $243.00, while maintaining an “overweight” rating for the stock.
In another development, StockNews.com commenced coverage on General Dynamics with a “buy” rating. This suggests that the company is regarded favorably by reputable analysts in the investment community. Overall, General Dynamics has received one hold rating and six buy ratings from analysts, based on data from Bloomberg.com. The current consensus target price for General Dynamics stands at $261.23.
Furthermore, some notable insider trading activity within the company has also come to light recently. CEO Phebe N. Novakovic sold 33,230 shares of General Dynamics’ stock on August 11th, amounting to a total transaction value of $7,575,110.80. Similarly, SVP Marguerite Amy Gilliland sold 13,500 shares of the business’s stock on August 3rd for a total transaction amount of $3,043,710.
These insider transactions have been reported in accordance with legal obligations and can be accessed through filings with the Securities and Exchange Commission (SEC). It is worth noting that insiders collectively sold 53,230 shares valued at $12,086,716 over the last ninety days.
Turning our attention to market performance details related to General Dynamics; as of September 19th, 2023; NYSE:GD opened at $224.33 per share. The company has a sizeable market capitalization of $61.25 billion, with a price to earnings (PE) ratio of 18.42 and a price-to-earnings growth (PEG) ratio of 1.99 – indicating relative value in terms of growth prospects.
General Dynamics’ stock has demonstrated a trading range within the past year, reaching its high point at $256.86 and its low point at $202.35. These figures provide insight into the stock’s volatility and may be useful for investors considering its potential performance.
Additionally, some key financial ratios can further illustrate General Dynamics’ financial health. The company boasts a quick ratio of 0.90 and a current ratio of 1.39, indicating a relatively healthy liquidity position. Furthermore, the company maintains a debt-to-equity ratio of 0.47, suggesting an appropriate level of indebtedness.
In conclusion, General Dynamics has attracted attention in the investment community due to various reports and insider trading activities that have shed light on the company’s performance and outlook. With positive ratings from analysts and notable insider transactions, General Dynamics presents itself as an intriguing option for investors seeking exposure to the aerospace and defense industry.
The Bancorp, Inc.
Updated on: 28/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
10:00 PM (UTC)
Date:25 September, 2023
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General Dynamics Reports Strong Q4 2023 EPS Estimates and Insider Sales
On September 17th, Seaport Res Ptn analysts released a report boosting their Q4 2023 EPS estimates for General Dynamics Co. (NYSE:GD). According to their analysis, the aerospace company is expected to post earnings of $4.45 per share for the quarter, an increase from their previous estimate of $4.15. The consensus estimate for General Dynamics’ current full-year earnings stands at $12.64 per share.
In related news, CEO Phebe N. Novakovic recently sold 33,230 shares of General Dynamics’ stock in a transaction that took place on August 11th. The shares were sold at an average price of $227.96, resulting in a total transaction value of $7,575,110.80. Following this sale, Novakovic now directly owns 778,092 shares of the company’s stock, valued at approximately $177,373,852.32. This transaction was disclosed in a legal filing with the SEC.
Additionally, SVP Marguerite Amy Gilliland sold 13,500 shares of General Dynamics’ stock on August 3rd at an average price of $225.46 per share, accumulating a total transaction value of $3,043,710.00. As a result of this sale, Gilliland now directly owns 44,157 shares of the company’s stock valued at $9,955,637.22.
Furthermore, CEO Phebe N. Novakovic made another sale on August 11th when she disposed of 33,230 shares at an average price of $227.96 per share—equating to a total transaction value of $7,575,110.80.
It is worth noting that insiders collectively sold a total of 53,230 shares valued at $12,086,716 over the last ninety days—an indication that insiders own approximately 1.50% of General Dynamics’ stock.
Turning to the company’s quarterly earnings results, General Dynamics (NYSE:GD) last reported on July 26th. The aerospace company posted $2.70 EPS for the quarter, surpassing analysts’ consensus estimate of $2.59 by $0.11. With revenue amounting to $10.15 billion, General Dynamics exceeded analyst estimates of $9.45 billion. The company achieved a net margin of 8.24% and a return on equity of 18.01%. Furthermore, their revenue for the quarter was up 10.5% compared to the same period last year, while in the prior year’s corresponding quarter, the business earned $2.75 earnings per share.
General Dynamics also recently announced its quarterly dividend, which will be paid on November 10th to shareholders of record as of October 6th. Investors can expect a dividend of $1.32 per share, equivalent to an annualized dividend payout ratio (DPR) of 43.35%. At present, this represents a dividend yield of 2.35%. The ex-dividend date for this payment is October 5th.
In conclusion, Seaport Res Ptn analysts have revised their Q4 2023 EPS estimates for General Dynamics, projecting higher earnings per share than originally expected. Despite recent insider sales, the company’s performance has been strong with positive quarterly earnings results and an upcoming dividend payment that signals stability and potential returns for investors.