Fintel reports that on April 29, 2024, Jefferies upgraded their outlook for General Dynamics (NYSE:GD) from Hold to Buy.
Analyst Price Forecast Suggests 8.38% Upside
As of April 17, 2024, the average one-year price target for General Dynamics is 311.92. The forecasts range from a low of 262.60 to a high of $362.25. The average price target represents an increase of 8.38% from its latest reported closing price of 287.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for General Dynamics is 46,098MM, an increase of 6.90%. The projected annual non-GAAP EPS is 16.23.
General Dynamics Declares $1.42 Dividend
On March 6, 2024 the company declared a regular quarterly dividend of $1.42 per share ($5.68 annualized). Shareholders of record as of April 12, 2024 will receive the payment on May 10, 2024. Previously, the company paid $1.32 per share.
At the current share price of 287.79 / share, the stocks dividend yield is {1}%.
The current dividend yield is 1.26 standard deviations below the historical average.
Additionally, the companys dividend payout ratio is trading. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The companys 3-Year dividend growth rate is trading%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2,583 funds or institutions reporting positions in General Dynamics. This is an increase of 153 owner(s) or 6.30% in the last quarter. Average portfolio weight of all funds dedicated to GD is 0.41%, an increase of 1.69%. Total shares owned by institutions increased in the last three months by 0.32% to 269,904K shares. 
The put/call ratio of GD is 0.37, indicating a bullish outlook.
What are Other Shareholders Doing?
Longview Asset Management holds 28,270K shares representing 10.32% ownership of the company. In its prior filing, the firm reported owning 28,289K shares , representing a decrease of 0.07%. The firm decreased its portfolio allocation in GD by 0.13% over the last quarter.
Newport Trust holds 15,873K shares representing 5.79% ownership of the company. In its prior filing, the firm reported owning 16,290K shares , representing a decrease of 2.63%. The firm decreased its portfolio allocation in GD by 0.76% over the last quarter.
Wellington Management Group Llp holds 15,433K shares representing 5.63% ownership of the company. In its prior filing, the firm reported owning 16,361K shares , representing a decrease of 6.01%. The firm decreased its portfolio allocation in GD by 85.15% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,709K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 7,650K shares , representing an increase of 0.76%. The firm increased its portfolio allocation in GD by 5.82% over the last quarter.
Bank Of America holds 7,603K shares representing 2.78% ownership of the company. In its prior filing, the firm reported owning 8,024K shares , representing a decrease of 5.53%. The firm increased its portfolio allocation in GD by 1.89% over the last quarter.
General Dynamics Background Information
(This description is provided by the company.)
Headquartered in Reston, Virginia, General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020.
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