Jefferies Financial Group Comments on General Dynamics Co.’s Q2 2019 Earnings (GD)

General Dynamics Co. (NYSE:GD) – Research analysts at Jefferies Financial Group decreased their Q2 2019 earnings estimates for shares of General Dynamics in a research note issued on Sunday, April 28th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aerospace company will post earnings per share of $2.76 for the quarter, down from their prior forecast of $2.83. Jefferies Financial Group also issued estimates for General Dynamics’ Q4 2019 earnings at $3.47 EPS, FY2020 earnings at $13.35 EPS and FY2021 earnings at $14.70 EPS.

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

Several other equities analysts have also issued reports on GD. Zacks Investment Research lowered General Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Argus lowered General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target on the stock. in a research note on Thursday, January 31st. ValuEngine lowered General Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Sanford C. Bernstein decreased their price target on General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research note on Monday, February 4th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $197.82.

NYSE GD traded down $3.48 during midday trading on Wednesday, hitting $166.37. The company had a trading volume of 991,581 shares, compared to its average volume of 1,376,528. The stock has a market capitalization of $48.45 billion, a PE ratio of 14.57, a P/E/G ratio of 1.61 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics has a twelve month low of $143.87 and a twelve month high of $208.88.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a yield of 2.45%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s payout ratio is currently 35.73%.

In other General Dynamics news, VP Gary L. Whited sold 14,640 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total value of $2,421,163.20. Following the sale, the vice president now owns 30,462 shares in the company, valued at approximately $5,037,805.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lester L. Lyles sold 4,580 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the sale, the director now owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders have sold a total of 64,690 shares of company stock worth $11,052,603 in the last 90 days. 7.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at about $25,000. Harvest Group Wealth Management LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at about $28,000. We Are One Seven LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at about $27,000. Aspire Private Capital LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at about $29,000. Finally, TCG Advisors LP acquired a new position in shares of General Dynamics in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.

General Dynamics Company Profile

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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