General Dynamics Co. (NYSE:GD) Expected to Post Quarterly Sales of $9.45 Billion

Wall Street analysts expect General Dynamics Co. (NYSE:GD) to post $9.45 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for General Dynamics’ earnings. The highest sales estimate is $9.63 billion and the lowest is $9.35 billion. General Dynamics reported sales of $9.19 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that General Dynamics will report full year sales of $38.69 billion for the current financial year, with estimates ranging from $38.50 billion to $39.10 billion. For the next fiscal year, analysts forecast that the company will post sales of $40.60 billion, with estimates ranging from $40.05 billion to $40.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover General Dynamics.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The business’s quarterly revenue was up 22.9% on a year-over-year basis.

GD has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Thursday, May 16th. Cowen restated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Finally, UBS Group increased their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and an average target price of $197.22.

In other General Dynamics news, EVP John Patrick Casey sold 45,470 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the completion of the sale, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC raised its position in shares of General Dynamics by 63.0% in the first quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock valued at $1,380,000 after purchasing an additional 3,151 shares during the period. U S Global Investors Inc. raised its position in shares of General Dynamics by 3.4% in the fourth quarter. U S Global Investors Inc. now owns 15,151 shares of the aerospace company’s stock valued at $2,382,000 after purchasing an additional 499 shares during the period. United Services Automobile Association raised its position in shares of General Dynamics by 5.4% in the fourth quarter. United Services Automobile Association now owns 136,689 shares of the aerospace company’s stock valued at $21,489,000 after purchasing an additional 6,985 shares during the period. Somerset Trust Co increased its position in General Dynamics by 0.5% during the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock worth $2,208,000 after acquiring an additional 69 shares during the period. Finally, CSat Investment Advisory L.P. increased its position in General Dynamics by 14.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 684 shares of the aerospace company’s stock worth $108,000 after acquiring an additional 85 shares during the period. 86.48% of the stock is currently owned by institutional investors.

Shares of General Dynamics stock traded up $0.31 on Friday, hitting $170.04. The company had a trading volume of 585,489 shares, compared to its average volume of 1,353,863. The stock has a market capitalization of $48.75 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. General Dynamics has a twelve month low of $143.87 and a twelve month high of $207.72. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s dividend payout ratio is currently 35.73%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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