General Dynamics Co. (GD) Plans $0.84 Quarterly Dividend

General Dynamics Co. (NYSE:GD) declared a quarterly dividend on Wednesday, December 6th, RTT News reports. Investors of record on Friday, January 19th will be paid a dividend of 0.84 per share by the aerospace company on Friday, February 9th. This represents a $3.36 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, January 18th.

General Dynamics has raised its dividend payment by an average of 10.7% per year over the last three years and has increased its dividend every year for the last 20 years. General Dynamics has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Dynamics to earn $10.88 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 30.9%.

Shares of General Dynamics (NYSE:GD) opened at $206.33 on Wednesday. The firm has a market cap of $61,610.00, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics has a 12 month low of $172.43 and a 12 month high of $214.81.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.36 EPS. equities research analysts predict that General Dynamics will post 9.8 earnings per share for the current year.

In related news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

A number of equities research analysts have weighed in on GD shares. Royal Bank of Canada set a $239.00 target price on shares of General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Cowen reiterated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Deutsche Bank reiterated a “hold” rating and set a $210.00 target price (up from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Stifel Nicolaus boosted their target price on shares of General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $218.92.

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General Dynamics Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

Dividend History for General Dynamics (NYSE:GD)

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