Reported Earnings • May 01
First quarter 2026 earnings released: EPS: US$4.16 (vs US$3.70 in 1Q 2025) First quarter 2026 results: EPS: US$4.16 (up from US$3.70 in 1Q 2025). Revenue: US$13.5b (up 10% from 1Q 2025). Net income: US$1.13b (up 13% from 1Q 2025). Profit margin: 8.3% (up from 8.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to US$325. The fair value is estimated to be US$406, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 9.7%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Upcoming Dividend • Apr 03
Upcoming dividend of US$1.59 per share Eligible shareholders must have bought the stock before 10 April 2026. Payment date: 08 May 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (1.1%). Annonce • Mar 30
General Dynamics Corporation, Annual General Meeting, May 06, 2026 General Dynamics Corporation, Annual General Meeting, May 06, 2026. Declared Dividend • Mar 16
Fourth quarter dividend increased to US$1.59 Dividend of US$1.59 is 6.0% higher than last year. Ex-date: 10th April 2026 Payment date: 8th May 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Mar 15
Executive Vice President recently sold US$3.6m worth of stock On the 11th of March, Mark Burns sold around 10k shares on-market at roughly US$355 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$6.3m more than they bought in the last 12 months. Annonce • Mar 10
General Dynamics Declares Quarterly Dividend, Payable on May 8, 2026 General Dynamics announced that its board of directors has declared a regular quarterly dividend of $1.59 per share on the company's common stock, payable May 8, 2026, to shareholders of record on April 10, 2026. Reported Earnings • Jan 29
Full year 2025 earnings released: EPS: US$15.65 (vs US$13.81 in FY 2024) Full year 2025 results: EPS: US$15.65 (up from US$13.81 in FY 2024). Revenue: US$52.6b (up 10% from FY 2024). Net income: US$4.21b (up 11% from FY 2024). Profit margin: 8.0% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 09
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 16 January 2026. Payment date: 06 February 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (1.1%). Declared Dividend • Dec 07
Third quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 16th January 2026 Payment date: 6th February 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Dec 04
General Dynamics Declares Quarterly Dividend, Payable on February 6, 2026 The board of directors of General Dynamics declared a regular quarterly dividend of $1.50 per share on the company's common stock, payable February 6, 2026, to shareholders of record on January 16, 2026. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: US$3.93 (vs US$3.39 in 3Q 2024) Third quarter 2025 results: EPS: US$3.93 (up from US$3.39 in 3Q 2024). Revenue: US$12.9b (up 11% from 3Q 2024). Net income: US$1.06b (up 14% from 3Q 2024). Profit margin: 8.2% (up from 8.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Oct 03
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 10 October 2025. Payment date: 14 November 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (5.4%). Higher than average of industry peers (1.1%). Declared Dividend • Aug 11
Second quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 10th October 2025 Payment date: 14th November 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Aug 07
General Dynamics Corporation Declares Quarterly Dividend, Payable on Payable November 14, 2025 General Dynamics Corporation declared a regular quarterly dividend of $1.50 per share on the company's common stock, payable November 14, 2025, to shareholders of record on October 10, 2025. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: US$3.78 (vs US$3.30 in 2Q 2024) Second quarter 2025 results: EPS: US$3.78 (up from US$3.30 in 2Q 2024). Revenue: US$13.0b (up 8.9% from 2Q 2024). Net income: US$1.01b (up 12% from 2Q 2024). Profit margin: 7.8% (up from 7.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 26
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 08 August 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (1.6%). Declared Dividend • Jun 09
First quarter dividend of US$1.50 announced Shareholders will receive a dividend of US$1.50. Ex-date: 3rd July 2025 Payment date: 8th August 2025 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 07
General Dynamics Corporation Announces Executive Changes On June 4, 2025, General Dynamics Corporation announced that Danny Deep, currently executive vice president, Combat Systems, has been promoted to executive vice president, Global Operations. Jason Aiken will take over as executive vice president, Combat Systems, and will retain Mission Systems as part of his portfolio. Amy Gilliland has been promoted to executive vice president and will remain president of General Dynamics Information Technology. Mark Burns has been promoted to executive vice president and will remain president of Gulfstream. Rob Smith, executive vice president, Marine Systems, will continue in his position including the responsibility for all Marine Systems major contracting. Annonce • Jun 05
General Dynamics Corporation Declares Regular Quarterly Dividend, Payable on August 8, 2025 The board of directors of General Dynamics declared a regular quarterly dividend of $1.50 per share on the company's common stock, payable August 8, 2025, to shareholders of record on July 3, 2025. Reported Earnings • Apr 23
First quarter 2025 earnings released: EPS: US$3.70 (vs US$2.92 in 1Q 2024) First quarter 2025 results: EPS: US$3.70 (up from US$2.92 in 1Q 2024). Revenue: US$12.2b (up 14% from 1Q 2024). Net income: US$994.0m (up 24% from 1Q 2024). Profit margin: 8.1% (up from 7.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. Upcoming Dividend • Apr 04
Upcoming dividend of US$1.50 per share Eligible shareholders must have bought the stock before 11 April 2025. Payment date: 09 May 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (1.9%). Annonce • Mar 31
General Dynamics Corporation, Annual General Meeting, May 07, 2025 General Dynamics Corporation, Annual General Meeting, May 07, 2025. Recent Insider Transactions • Mar 10
Chairperson & CEO recently sold US$8.6m worth of stock On the 5th of March, Phebe Novakovic sold around 33k shares on-market at roughly US$263 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Phebe has been a net seller over the last 12 months, reducing personal holdings by US$23m. Annonce • Mar 06
General Dynamics Corporation Declares Regular Quarterly Dividend, Payable on May 9, 2025 The board of directors of General Dynamics Corporation declared a regular quarterly dividend of $1.50 per share on the company's common stock, payable May 9, 2025, to shareholders of record on April 11, 2025. Reported Earnings • Jan 29
Full year 2024 earnings released: EPS: US$13.81 (vs US$12.14 in FY 2023) Full year 2024 results: EPS: US$13.81 (up from US$12.14 in FY 2023). Revenue: US$47.7b (up 13% from FY 2023). Net income: US$3.78b (up 14% from FY 2023). Profit margin: 7.9% (up from 7.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Jan 10
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 17 January 2025. Payment date: 07 February 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (5.9%). In line with average of industry peers (2.2%). Declared Dividend • Dec 09
Third quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 17th January 2025 Payment date: 7th February 2025 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 8.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Dec 05
General Dynamics Board Declares Quarterly Dividend, Payable on February 7, 2025 The board of directors of General Dynamics declared a regular quarterly dividend of $1.42 per share on the company's common stock, payable February 7, 2025, to shareholders of record on January 17, 2025. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: US$3.39 (vs US$3.07 in 3Q 2023) Third quarter 2024 results: EPS: US$3.39 (up from US$3.07 in 3Q 2023). Revenue: US$11.7b (up 10% from 3Q 2023). Net income: US$930.0m (up 11% from 3Q 2023). Profit margin: 8.0% (up from 7.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Oct 04
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 11 October 2024. Payment date: 15 November 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (2.2%). Declared Dividend • Aug 11
Second quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 11th October 2024 Payment date: 15th November 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$3.30 (vs US$2.72 in 2Q 2023) Second quarter 2024 results: EPS: US$3.30 (up from US$2.72 in 2Q 2023). Revenue: US$12.0b (up 18% from 2Q 2023). Net income: US$905.0m (up 22% from 2Q 2023). Profit margin: 7.6% (up from 7.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 28
Heritage Environmental Services, LLC agreed to acquire EBV Explosives Environmental Company from General Dynamics Corporation (NYSE:GD). Heritage Environmental Services, LLC agreed to acquire EBV Explosives Environmental Company from General Dynamics Corporation (NYSE:GD) on June 27, 2024. The transaction is subject to customary conditions and approvals and expected to close in Q3 2024 Ice Miller LLP acted as legal advisor for Heritage Environmental Services, LLC. Houlihan Lokey, Inc. acted as financial advisor for General Dynamics Corporation. Declared Dividend • Jun 10
First quarter dividend of US$1.42 announced Shareholders will receive a dividend of US$1.42. Ex-date: 5th July 2024 Payment date: 9th August 2024 Dividend yield will be 1.8%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 9.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jun 08
General Dynamics Appoints Elizabeth L. Schmid as Senior Vice President for Government Relations and Communications General Dynamics announced that Elizabeth L. Schmid has been appointed as senior vice president for Government Relations and Communications. Schmid joined General Dynamics in 2015 and has served as vice president for Government Relations since 2018. She previously served as vice president for National Security and Acquisition Policy at the Aerospace Industries Association, as a professional staff member and staff director for the Senate Defense Appropriations Subcommittee, and as a Presidential Management Fellow in the Office of the Secretary of Defense. Annonce • Jun 06
General Dynamics Declares Regular Quarterly Dividend on Common Stock, Payable August 9, 2024 The board of directors of General Dynamics declared a regular quarterly dividend of $1.42 per share on the company's common stock, payable August 9, 2024, to shareholders of record on July 5, 2024. Recent Insider Transactions • May 22
Insider recently sold US$3.6m worth of stock On the 17th of May, Mark Burns sold around 12k shares on-market at roughly US$297 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$14m. Insiders have been net sellers, collectively disposing of US$35m more than they bought in the last 12 months. Recent Insider Transactions • May 01
Chairperson & CEO recently sold US$14m worth of stock On the 26th of April, Phebe Novakovic sold around 50k shares on-market at roughly US$285 per share. This transaction amounted to 5.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Phebe has been a net seller over the last 12 months, reducing personal holdings by US$22m. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: US$2.92 (vs US$2.66 in 1Q 2023) First quarter 2024 results: EPS: US$2.92 (up from US$2.66 in 1Q 2023). Revenue: US$10.7b (up 8.6% from 1Q 2023). Net income: US$799.0m (up 9.5% from 1Q 2023). Profit margin: 7.4% (in line with 1Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 04
Upcoming dividend of US$1.42 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (6.0%). In line with average of industry peers (1.9%). Annonce • Mar 24
General Dynamics Corporation, Annual General Meeting, May 01, 2024 General Dynamics Corporation, Annual General Meeting, May 01, 2024, at 09:00 US Eastern Standard Time. Agenda: To consider Election of Directors; to consider Advisory Vote on the Selection of Independent Auditors; to consider Advisory Vote to Approve Executive Compensation; to consider Shareholder Proposal – Shareholder Opportunity to Vote on Excessive Golden Parachutes; and to consider other matters. Declared Dividend • Mar 10
Fourth quarter dividend increased to US$1.42 Dividend of US$1.42 is 7.6% higher than last year. Ex-date: 11th April 2024 Payment date: 10th May 2024 Dividend yield will be 2.0%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Mar 07
General Dynamics Corporation Declares Regular Quarterly Dividend, Payable May 10, 2024 The board of directors of General Dynamics declared a regular quarterly dividend of $1.42 per share on the company's common stock, payable May 10, 2024, to shareholders of record on April 12, 2024. This is the 27th consecutive annual dividend increase authorized by the General Dynamics board and represents a 7.6% increase over last year's dividend. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$12.14 (vs US$12.31 in FY 2022) Full year 2023 results: EPS: US$12.14 (down from US$12.31 in FY 2022). Revenue: US$42.3b (up 7.3% from FY 2022). Net income: US$3.32b (down 2.2% from FY 2022). Profit margin: 7.8% (down from 8.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 11
Upcoming dividend of US$1.32 per share at 2.1% yield Eligible shareholders must have bought the stock before 18 January 2024. Payment date: 09 February 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.1%). Annonce • Jan 07
General Dynamics Corporation Announces Chief Financial Officer Changes, Effective February 15, 2024 General Dynamics Corporation announced that Jason Aiken, who currently serves as executive vice president of Technologies and chief financial officer, will move from his joint role to focus exclusively on the operating duties of the Technologies group, effective February 15, 2024. Kim Kuryea, currently senior vice president of Human Resources and Administration, will become the company's CFO, also effective February 15, 2024. Annonce • Jan 06
General Dynamics Corporation Announces Executive Changes General Dynamics announced that Mark Roualet, who currently serves as executive vice president of Combat Systems, has informed the company that he will retire on April 30, 2024. He will be succeeded by Danny Deep, who currently serves as president of General Dynamics Land Systems, effective April 15, 2024. Deep will be succeeded by David Paddock, who currently serves as president of Jet Aviation, effective April 1. Paddock will be replaced as president of Jet Aviation by Jeremie Caillet, who currently serves as senior vice president of operations in Basel, Switzerland. General Dynamics also announced that Jason Aiken, who currently serves as executive vice president of Technologies, will move from his joint role to focus exclusively on the operating duties of the Technologies group, effective February 15, 2024. Kimberly A. Kuryea, currently Senior Vice President, Human Resources and Administration, will transition to Senior Vice President and Chief Financial Officer, effective February 15, 2024. Kuryea will be replaced by Shane Berg, who currently serves as senior vice president of Planning and Development. Annonce • Dec 07
General Dynamics Corporation Announces Quarterly Dividend, Payable on February 9, 2024 General Dynamics Corporation declared a regular quarterly dividend of $1.32 per share on the company's common stock, payable February 9, 2024, to shareholders of record on January 19, 2024. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$3.07 (vs US$3.29 in 3Q 2022) Third quarter 2023 results: EPS: US$3.07 (down from US$3.29 in 3Q 2022). Revenue: US$10.6b (up 6.0% from 3Q 2022). Net income: US$836.0m (down 7.3% from 3Q 2022). Profit margin: 7.9% (down from 9.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 28
Upcoming dividend of US$1.32 per share at 2.4% yield Eligible shareholders must have bought the stock before 05 October 2023. Payment date: 10 November 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (6.3%). In line with average of industry peers (2.5%). Recent Insider Transactions • Aug 16
Chairperson & CEO recently sold US$7.6m worth of stock On the 11th of August, Phebe Novakovic sold around 33k shares on-market at roughly US$228 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Phebe's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 08
Senior Vice President recently sold US$3.0m worth of stock On the 3rd of August, Marguerite Gilliland sold around 14k shares on-market at roughly US$225 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.0m more than they bought in the last 12 months. Annonce • Jul 27
General Dynamics Corporation Updates Earnings Guidance for the Year 2023 General Dynamics Corporation updated earnings guidance for the year 2023. For the year, the company expected annual revenue higher than initial guidance. Total revenue to be around $42.45 billion, about $1.2 billion up from previous guidance. Operating earnings should be down modestly from prior guidance, but below-the-line items and lower share count will leave EPS guidance the same. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$2.72 (vs US$2.77 in 2Q 2022) Second quarter 2023 results: EPS: US$2.72 (down from US$2.77 in 2Q 2022). Revenue: US$10.2b (up 11% from 2Q 2022). Net income: US$744.0m (down 2.9% from 2Q 2022). Profit margin: 7.3% (down from 8.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of US$1.32 per share at 2.5% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of British dividend payers (6.0%). In line with average of industry peers (2.6%). Annonce • Jun 09
General Dynamics Corporation Elects Charles W. Hooper as a Member of the Board On June 7, 2023, the board of directors of General Dynamics Corporation elected Charles W. “Hoop” Hooper as a member of the Board, effective June 7, 2023. Hooper, age 65, is a retired U.S. Army Lieutenant General who previously served as Director of the Defense Security Cooperation Agency, where he oversaw the execution of U.S. policy on sales of defense articles and services to foreign governments. His prior military assignments include U.S. Defense Attaché to Egypt, U.S. Defense Attaché to China, Director of Strategy, Plans and Programs at U.S. Africa Command, Deputy Director of Strategic Planning and Policy at U.S. Indo-Pacific Command, and Senior Director for China, Taiwan and Mongolia Policy in the Office of the Secretary of Defense. He retired from the Army in 2020 after 41 years of service. Hooper serves as a Senior Counselor for the Cohen Group and is affiliated with the National Bureau of Asian Research, the Atlantic Council and the Council on Foreign Relations. He is also a Senior Fellow at the Belfer Center for Science and International Affairs at Harvard University’s John F. Kennedy School of Government and serves on the board of directors for UL Solutions as well as the board of trustees for the National WWII Museum in New Orleans. Hooper is a graduate of the U.S. Military Academy at West Point and holds master’s degrees from the Army War College and Harvard University’s John F. Kennedy School of Government. Annonce • Jun 08
General Dynamics Corporation Declares Regular Quarterly Dividend, Payable on August 11, 2023 The board of directors of General Dynamics declared a regular quarterly dividend of $1.32 per share on the company's common stock, payable August 11, 2023, to shareholders of record on July 7, 2023. Recent Insider Transactions • May 05
Independent Director recently bought US$1.0m worth of stock On the 2nd of May, Mark Malcolm bought around 5k shares on-market at roughly US$214 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$1.5m more in shares than they bought in the last 12 months. Reported Earnings • Apr 27
First quarter 2023 earnings released: EPS: US$2.66 (vs US$2.64 in 1Q 2022) First quarter 2023 results: EPS: US$2.66 (up from US$2.64 in 1Q 2022). Revenue: US$9.88b (up 5.2% from 1Q 2022). Net income: US$730.0m (flat on 1Q 2022). Profit margin: 7.4% (down from 7.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 06
Upcoming dividend of US$1.32 per share at 2.3% yield Eligible shareholders must have bought the stock before 13 April 2023. Payment date: 12 May 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (2.7%). Annonce • Feb 04
General Dynamics Elects Richard Clarke to Board of Directors General Dynamics Corporation announced that its board of directors has elected Richard Clarke to be a director of the corporation. Clarke, 60, is a retired U.S. Army general who served nearly four decades leading Infantry, Ranger, and Special Operations Forces at all levels in the U.S., Europe, Iraq and Afghanistan. He retired from the military in August 2022 after serving as the commander of the United States Special Operations Command, where he led a joint force of over 75,000 military members consisting of Army Rangers, Special Forces, Navy SEALs, Air Force Commandos and Marine Raiders, with an annual operating budget over $25 billion. Clarke is a graduate of the United States Military Academy at West Point and earned a Master of Business Administration degree from Benedictine College. He is a distinguished graduate of the National War College. 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 $39.4 billion in revenue in 2022. Reported Earnings • Jan 26
Full year 2022 earnings released: EPS: US$12.31 (vs US$11.61 in FY 2021) Full year 2022 results: EPS: US$12.31 (up from US$11.61 in FY 2021). Revenue: US$39.4b (up 2.4% from FY 2021). Net income: US$3.39b (up 4.1% from FY 2021). Profit margin: 8.6% (in line with FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jan 12
Upcoming dividend of US$1.26 per share Eligible shareholders must have bought the stock before 19 January 2023. Payment date: 10 February 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (2.9%). Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: US$3.29 (vs US$3.09 in 3Q 2021) Third quarter 2022 results: EPS: US$3.29 (up from US$3.09 in 3Q 2021). Revenue: US$9.98b (up 4.3% from 3Q 2021). Net income: US$902.0m (up 4.9% from 3Q 2021). Profit margin: 9.0% (in line with 3Q 2021). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Aerospace & Defense industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 29
Upcoming dividend of US$1.26 per share Eligible shareholders must have bought the stock before 06 October 2022. Payment date: 10 November 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.0%). Recent Insider Transactions • Aug 04
Senior VP recently sold US$2.5m worth of stock On the 1st of August, Gregory Gallopoulos sold around 11k shares on-market at roughly US$228 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$5.1m more than they bought in the last 12 months. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$2.77 (vs US$2.63 in 2Q 2021) Second quarter 2022 results: EPS: US$2.77 (up from US$2.63 in 2Q 2021). Revenue: US$9.19b (flat on 2Q 2021). Net income: US$766.0m (up 3.9% from 2Q 2021). Profit margin: 8.3% (up from 8.0% in 2Q 2021). Over the next year, revenue is forecast to grow 6.2%, compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Jun 23
Upcoming dividend of US$1.26 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.2%). Lower than average of industry peers (3.2%). Recent Insider Transactions • May 04
Senior VP recently sold US$2.5m worth of stock On the 29th of April, Gregory Gallopoulos sold around 11k shares on-market at roughly US$238 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: US$2.63 (vs US$2.49 in 1Q 2021) First quarter 2022 results: EPS: US$2.63 (up from US$2.49 in 1Q 2021). Revenue: US$9.39b (flat on 1Q 2021). Net income: US$730.0m (up 3.1% from 1Q 2021). Profit margin: 7.8% (up from 7.5% in 1Q 2021). Over the next year, revenue is forecast to grow 4.1%, compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 31
Upcoming dividend of US$1.26 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (4.7%). Lower than average of industry peers (3.3%). Reported Earnings • Jan 27
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$11.62 (up from US$11.04 in FY 2020). Revenue: US$38.5b (up 1.4% from FY 2020). Net income: US$3.26b (up 2.8% from FY 2020). Profit margin: 8.5% (up from 8.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 4.6%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Jan 06
Upcoming dividend of US$1.19 per share Eligible shareholders must have bought the stock before 13 January 2022. Payment date: 04 February 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (3.9%). Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS US$3.09 (vs US$2.91 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$9.57b (up 1.5% from 3Q 2020). Net income: US$860.0m (up 3.1% from 3Q 2020). Profit margin: 9.0% (up from 8.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Sep 30
Upcoming dividend of US$1.19 per share Eligible shareholders must have bought the stock before 07 October 2021. Payment date: 12 November 2021. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (3.6%). Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS US$2.63 (vs US$2.18 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: US$9.22b (flat on 2Q 2020). Net income: US$737.0m (up 18% from 2Q 2020). Profit margin: 8.0% (up from 6.7% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Upcoming Dividend • Jun 24
Upcoming dividend of US$1.19 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 06 August 2021. Trailing yield: 2.5%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (3.8%). Executive Departure • May 12
Independent Director has left the company On the 5th of May, William Osborn's tenure as Independent Director ended after 11.4 years in the role. As of December 2020, William personally held 35.87k shares (US$5.3m worth at the time). William is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS US$2.49 (vs US$2.45 in 1Q 2020) The company reported a mediocre first quarter result with weaker profit margins, although earnings were flat and revenues improved. First quarter 2021 results: Revenue: US$9.39b (up 7.3% from 1Q 2020). Net income: US$708.0m (flat on 1Q 2020). Profit margin: 7.5% (down from 8.1% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Apr 01
Upcoming dividend of US$1.19 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 07 May 2021. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (4.3%). Lower than average of industry peers (4.0%). Is New 90 Day High Low • Feb 23
New 90-day high: US$167 The company is up 9.0% from its price of US$153 on 25 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$256 per share. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS US$11.04 (vs US$12.09 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$37.9b (down 3.6% from FY 2019). Net income: US$3.17b (down 9.1% from FY 2019). Profit margin: 8.4% (down from 8.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 11
Revenue misses expectations Revenue missed analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 2.2%, compared to a 6.1% growth forecast for the Aerospace & Defense industry in the United Kingdom. Reported Earnings • Jan 28
Full year 2020 earnings released: EPS US$11.04 (vs US$12.09 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$37.9b (down 3.6% from FY 2019). Net income: US$3.17b (down 9.1% from FY 2019). Profit margin: 8.4% (down from 8.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Jan 28
Revenue misses expectations Revenue missed analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 2.0%, compared to a 6.9% growth forecast for the Aerospace & Defense industry in the United Kingdom. Is New 90 Day High Low • Jan 28
New 90-day high: US$157 The company is up 20% from its price of US$130 on 30 October 2020. The British market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$217 per share. Upcoming Dividend • Jan 07
Upcoming Dividend of US$1.10 Per Share Will be paid on the 5th of February to those who are registered shareholders by the 14th of January. The trailing yield of 2.9% is below the top quartile of British dividend payers (4.6%), and is lower than industry peers (3.9%). Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 36% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.9x, up from the previous P/E ratio of 10.2x. This compares to an average P/E of 21x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 18%. Is New 90 Day High Low • Dec 09
New 90-day high: US$206 The company is up 42% from its price of US$145 on 10 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$236 per share. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 36% share price gain to US$206, the stock is trading at a trailing P/E ratio of 14.1x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 21x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 19%. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 39% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.7x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 21x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 16%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 39% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.7x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 21x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 16%. Valuation Update With 7 Day Price Move • Nov 25
Market bids up stock over the past week After last week's 34% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.5x, up from the previous P/E ratio of 10.1x. This compares to an average P/E of 22x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 15%. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 37% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.5x, up from the previous P/E ratio of 9.9x. This compares to an average P/E of 22x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 15%. Valuation Update With 7 Day Price Move • Nov 13
Market bids up stock over the past week After last week's 48% share price gain to US$206, the stock is trading at a trailing P/E ratio of 13.3x, up from the previous P/E ratio of 9x. This compares to an average P/E of 22x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 14%. Valuation Update With 7 Day Price Move • Nov 07
Market bids up stock over the past week After last week's 58% share price gain to US$206, the stock is trading at a trailing P/E ratio of 12.6x, up from the previous P/E ratio of 8x. This compares to an average P/E of 21x in the Aerospace & Defense industry in the United Kingdom. Total returns to shareholders over the past year are 18%. 
