General Dynamics Corporation (NYSE:GD) to Issue $1.59 Quarterly Dividend

General Dynamics Corporation (NYSE:GD) declared a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Thursday, July 2nd will be paid a dividend of 1.59 per share by the aerospace company on Friday, August 7th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, July 2nd.

General Dynamics has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 34 years. General Dynamics has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect General Dynamics to earn $18.28 per share next year, which means the company should continue to be able to cover its $6.36 annual dividend with an expected future payout ratio of 34.8%.

General Dynamics Stock Performance

Shares of NYSE GD opened at $337.66 on Thursday. General Dynamics has a 52 week low of $268.10 and a 52 week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.09 and a beta of 0.34. The business’s 50-day simple moving average is $340.31 and its 200-day simple moving average is $346.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter in the previous year, the firm earned $3.66 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics will post 16.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings cut General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $387.40.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.