Zacks Research Has Negative Outlook for GD FY2024 Earnings

General Dynamics Co. (NYSE:GD) – Zacks Research decreased their FY2024 EPS 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 per share of $14.00 for the year, down from their prior forecast 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.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays increased their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Price Performance

Shares of NYSE GD opened at $288.01 on Friday. General Dynamics has a twelve month low of $243.87 and a twelve month high of $316.90. The business has a 50 day simple moving average of $302.55 and a 200-day simple moving average of $296.20. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $79.19 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

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

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC lifted its holdings in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in General Dynamics in the 3rd quarter worth $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the 1st quarter valued at about $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics during the third quarter worth about $30,000. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % 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.

General Dynamics Company Profile

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.