According to Fintel, on September 19, 2023, Citigroup maintained coverage of General Dynamics (NYSE:GD) with a Buy recommendation.
The average one-year price target for General Dynamics is 269.66 as of August 31, 2023. The forecasts range from a low of 229.27 to a high of $341.25. This represents a potential increase of 20.20% from the latest reported closing price of 224.33.
General Dynamics is projected to have annual revenue of 43,301MM, an increase of 5.98%. The projected annual non-GAAP EPS is 14.43.
On August 1, 2023, General Dynamics declared a regular quarterly dividend of $1.32 per share ($5.28 annualized). Shareholders of record as of October 6, 2023, will receive the payment on November 10, 2023. The current share price of $224.33/share gives the stock a dividend yield of 2.35%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.44%, with the lowest at 1.80% and the highest at 4.13%. The standard deviation of yields is 0.36.
The current dividend yield is 0.24 standard deviations below the historical average.
The company’s dividend payout ratio is 0.43, indicating how much of a company’s income is paid out in dividends. A payout ratio greater than one means the company is using savings to maintain its dividend, which is not a healthy situation. General Dynamics has a 3-Year dividend growth rate of 0.20%, showing that it has increased its dividend over time.
There are 2358 funds or institutions reporting positions in General Dynamics, a decrease of 84 owner(s) or 3.44% in the last quarter. The average portfolio weight of all funds dedicated to GD is 0.39%, a decrease of 2.13%. Total shares owned by institutions decreased in the last three months by 2.29% to 271,871K shares. The put/call ratio of GD is 0.48, indicating a bullish outlook.
Longview Asset Management holds 28,289K shares representing 10.38% ownership of the company. Newport Trust holds 16,437K shares representing 6.03% ownership of the company, with an increase of 19.92% in portfolio allocation over the last quarter. Wellington Management Group Llp holds 14,605K shares representing 5.36% ownership of the company, with an increase of 4.94% in portfolio allocation over the last quarter. Capital Research Global Investors holds 8,370K shares representing 3.07% ownership of the company, with a decrease of 25.12% in portfolio allocation over the last quarter. Bank Of America holds 8,263K shares representing 3.03% ownership of the company, with a decrease of 18.77% in portfolio allocation over the last quarter.
General Dynamics is a global aerospace and defense company headquartered in Reston, Virginia. It offers a broad portfolio of products and services in various sectors. The company employs more than 100,000 people worldwide and generated $37.9 billion in revenue in 2020.
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This story originally appeared on Fintel.
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