General Dynamics Co. (GD) Plans Quarterly Dividend of $0.93
General Dynamics Co. (NYSE:GD) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Friday, January 18th will be given a dividend of 0.93 per share by the aerospace company on Friday, February 8th. This represents a $3.72 annualized dividend and a yield of 2.18%.
General Dynamics has raised its dividend payment by an average of 10.7% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. General Dynamics has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Dynamics to earn $12.10 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 30.7%.
GD opened at $171.02 on Friday. The stock has a market cap of $51.29 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. General Dynamics has a fifty-two week low of $164.76 and a fifty-two week high of $230.00.
GD has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating and set a $253.00 price objective on shares of General Dynamics in a report on Monday, October 15th. Credit Suisse Group dropped their price objective on shares of General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Wells Fargo & Co dropped their price objective on shares of General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Morgan Stanley dropped their price objective on shares of General Dynamics from $209.00 to $189.00 and set an “underweight” rating on the stock in a report on Wednesday, November 14th. Finally, UBS Group initiated coverage on shares of General Dynamics in a report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $227.44.
In other news, insider S. Daniel Johnson sold 77,810 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $199.85, for a total value of $15,550,328.50. Following the sale, the insider now directly owns 99,333 shares of the company’s stock, valued at $19,851,700.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Patrick Casey sold 22,500 shares of the stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the sale, the insider now directly owns 118,555 shares in the company, valued at $22,914,310.40. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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