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.
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.
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