Fintel reports that on September 28, 2023, Deutsche Bank initiated coverage of General Dynamics (NYSE:GD) with a Buy recommendation.
Analyst Price Forecast Suggests 22.02% Upside
As of August 31, 2023, the average one-year price target for General Dynamics is 269.66. The forecasts range from a low of 229.27 to a high of $341.25. The average price target represents an increase of 22.02% from its latest reported closing price of 221.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for General Dynamics is 43,301MM, an increase of 5.98%. The projected annual non-GAAP EPS is 14.43.
General Dynamics Declares $1.32 Dividend
On August 1, 2023 the company 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. Previously, the company paid $1.32 per share.
At the current share price of $221.00 / share, the stock's dividend yield is 2.39%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.44%, the lowest has been 1.80%, and the highest has been 4.13%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.15 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's 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 company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2372 funds or institutions reporting positions in General Dynamics. This is a decrease of 68 owner(s) or 2.79% in the last quarter. Average portfolio weight of all funds dedicated to GD is 0.39%, a decrease of 1.81%. Total shares owned by institutions decreased in the last three months by 2.09% to 272,274K shares. 
The put/call ratio of GD is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Longview Asset Management holds 28,289K shares representing 10.38% ownership of the company. No change in the last quarter.
Newport Trust holds 16,437K shares representing 6.03% ownership of the company. In it's prior filing, the firm reported owning 16,507K shares, representing a decrease of 0.43%. The firm increased its portfolio allocation in GD by 19.92% over the last quarter.
Wellington Management Group Llp holds 14,605K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 13,884K shares, representing an increase of 4.94%. The firm decreased its portfolio allocation in GD by 5.36% over the last quarter.
Capital Research Global Investors holds 8,370K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 9,895K shares, representing a decrease of 18.21%. The firm decreased its portfolio allocation in GD by 25.12% over the last quarter.
Bank Of America holds 8,263K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 9,787K shares, representing a decrease of 18.45%. The firm decreased its portfolio allocation in GD by 18.77% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
