General Dynamics Corporation (NYSE:GD) has a beta value of 0.85 and has seen 0.67 million shares traded in the recent trading session. The company, currently valued at $64.30B, closed the recent trade at $224.37 per share which meant it lost -$11.08 on the day or -4.71% during that session. The GD stock price is -14.48% off its 52-week high price of $256.86 and 10.51% above the 52-week low of $200.79. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.27 million shares traded. The 3-month trading volume is 1.03 million shares.
The consensus among analysts is that General Dynamics Corporation (GD) is an Overweight stock at the moment, with a recommendation rating of 2.10. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 8 out of 24 have rated it as a Hold, with 14 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $3.54.
General Dynamics Corporation (NYSE:GD) trade information
Sporting -4.71% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the GD stock price touched $224.37 or saw a rise of 5.32%. Year-to-date, General Dynamics Corporation shares have moved -5.10%, while the 5-day performance has seen it change -2.36%. Over the past 30 days, the shares of General Dynamics Corporation (NYSE:GD) have changed -5.81%. Short interest in the company has seen 2.11 million shares shorted with days to cover at 2.37.
Wall Street analysts have a consensus price target for the stock at $277.55, which means that the shares’ value could jump 19.16% from the levels at last check today. The projected low price target is $227.00 while the price target rests at a high of $325.00. In that case, then, we find that the latest price level in today’s session is -44.85% off the targeted high while a plunge would see the stock gain -1.17% from the levels at last check today.
General Dynamics Corporation (GD) estimates and forecasts
Figures show that General Dynamics Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 7.61% over the past 6 months, with this year growth rate of 5.11%, compared to -2.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 4.40% and 15.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 2.10%.
15 analysts offering their estimates for the company have set an average revenue estimate of $10.69 billion for the current quarter. 5 have an estimated revenue figure of $9.78 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $10.29 billion and $9.39 billion respectively for this quarter and the next, and analysts expect sales will grow by 3.80% for the current quarter and 4.20% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 6.00% over the past 5 years. Earnings growth for 2023 is a modest 5.00% while over the next 5 years, the company’s earnings are expected to increase by 10.24%.
General Dynamics Corporation is expected to release its next earnings report on January 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 5.04 at a share yield of 2.14%. The company’s dividend yield has gone up over the past 12 months.
General Dynamics Corporation (NYSE:GD)’s Major holders
Insiders own 0.46% of the company shares, while shares held by institutions stand at 86.83% with a share float percentage of 87.23%. Investors are also buoyed by the number of investors in a company, with General Dynamics Corporation having a total of 1,787 institutions that hold shares in the company. The top two institutional holders are Longview Asset Management, LLC with over 30.04 million shares worth more than $6.72 billion. As of Sep 29, 2022, Longview Asset Management, LLC held 10.94% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 21.91 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $4.9 billion and represent 7.98% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Specialized-Dividend Growth Fund. As of Sep 29, 2022, the former fund manager holds about 2.68% shares in the company for having 7.36 million shares of worth $1.65 billion while later fund manager owns 5.57 million shares of worth $1.25 billion as of Oct 30, 2022, which makes it owner of about 2.03% of company’s outstanding stock.