What is Zacks Research’s Estimate for GD FY2024 Earnings?

General Dynamics Co. (NYSE:GD) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share estimates for General Dynamics in a report issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the aerospace company will post earnings per share of $14.00 for the year, down from their previous estimate 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.

Several other research firms have also commented on GD. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Citigroup raised their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Down 1.5 %

General Dynamics stock opened at $288.01 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $79.19 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.90 and a beta of 0.61. The business has a fifty day moving average of $302.55 and a two-hundred day moving average of $296.20. General Dynamics has a twelve month low of $243.87 and a twelve month high of $316.90.

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

Hedge Funds Weigh In On General Dynamics

A number of institutional investors have recently added to or reduced their stakes in GD. Olstein Capital Management L.P. grew its stake in shares of General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after acquiring an additional 3,363 shares in the last quarter. Lummis Asset Management LP lifted its holdings in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after acquiring an additional 5,069 shares during the last quarter. Finally, CWC Advisors LLC. purchased a new position in shares of General Dynamics during the third quarter worth about $771,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.52% of the company’s stock.

About General Dynamics

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.