General Dynamics Co. (NYSE:GD) announced a quarterly dividend on Wednesday, December 2nd, RTT News reports. Shareholders of record on Friday, January 15th will be given a dividend of 1.10 per share by the aerospace company on Friday, February 5th. This represents a $4.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, January 14th.
General Dynamics has raised its dividend payment by 31.7% over the last three years and has raised its dividend every year for the last 30 years. General Dynamics has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Dynamics to earn $11.60 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 37.9%.
NYSE GD opened at $153.50 on Wednesday. The firm has a 50-day moving average price of $151.12 and a two-hundred day moving average price of $147.14. General Dynamics has a 12-month low of $100.55 and a 12-month high of $190.08. The company has a quick ratio of 0.90, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $44.05 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.43 and a beta of 1.05.
GD has been the topic of several research analyst reports. Robert W. Baird lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $167.00 to $149.00 in a research note on Friday, October 2nd. The Goldman Sachs Group lowered shares of General Dynamics from a “buy” rating to a “sell” rating and dropped their price target for the company from $205.00 to $138.00 in a research report on Thursday, September 17th. BidaskClub downgraded shares of General Dynamics from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 23rd. TheStreet upgraded shares of General Dynamics from a “c+” rating to a “b-” rating in a report on Thursday, December 17th. Finally, Credit Suisse Group reduced their target price on shares of General Dynamics from $156.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $169.53.
In other General Dynamics news, VP William A. Moss sold 4,713 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $138.54, for a total transaction of $652,939.02. Following the sale, the vice president now directly owns 12,753 shares in the company, valued at $1,766,800.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.60% of the company’s stock.
General Dynamics Company Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, Mission Systems and Marine Systems.
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