General Dynamics Co. to Post FY2018 Earnings of $11.35 Per Share, Jefferies Financial Group Forecasts (GD)

General Dynamics Co. (NYSE:GD) – Equities research analysts at Jefferies Financial Group raised their FY2018 earnings per share (EPS) estimates for shares of General Dynamics in a note issued to investors on Wednesday, October 24th. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aerospace company will post earnings per share of $11.35 for the year, up from their previous forecast of $11.20.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the business earned $2.52 earnings per share. General Dynamics’s revenue for the quarter was up 20.0% on a year-over-year basis.

Other equities analysts also recently issued research reports about the company. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research note on Thursday, August 16th. Citigroup dropped their price objective on General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. UBS Group assumed coverage on General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 price objective on the stock. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Credit Suisse Group upped their price objective on General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $231.00.

General Dynamics stock opened at $171.89 on Monday. General Dynamics has a 12 month low of $164.76 and a 12 month high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $50.30 billion, a P/E ratio of 17.28, a PEG ratio of 1.35 and a beta of 0.77.

In other General Dynamics news, insider S. Daniel Johnson sold 77,810 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the sale, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Malcolm bought 3,000 shares of the stock in a transaction on Friday, October 26th. The shares were acquired at an average cost of $169.87 per share, for a total transaction of $509,610.00. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of GD. Adirondack Trust Co. increased its holdings in shares of General Dynamics by 20.0% in the second quarter. Adirondack Trust Co. now owns 1,600 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 267 shares during the period. Pittenger & Anderson Inc. increased its holdings in shares of General Dynamics by 1.0% in the third quarter. Pittenger & Anderson Inc. now owns 26,283 shares of the aerospace company’s stock worth $5,381,000 after purchasing an additional 267 shares during the period. Bigelow Investment Advisors LLC increased its holdings in shares of General Dynamics by 6.0% in the second quarter. Bigelow Investment Advisors LLC now owns 4,751 shares of the aerospace company’s stock worth $886,000 after purchasing an additional 268 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of General Dynamics by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 27,116 shares of the aerospace company’s stock worth $5,054,000 after purchasing an additional 275 shares during the period. Finally, Westbourne Investment Advisors Inc. increased its holdings in shares of General Dynamics by 15.0% in the third quarter. Westbourne Investment Advisors Inc. now owns 2,110 shares of the aerospace company’s stock worth $432,000 after purchasing an additional 275 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for General Dynamics (NYSE:GD)

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