Defense contractor General Dynamics Corporation ( GD
The Falls Church, VA-based company reported first quarter net income of $597 million, or $1.55 per share, compared with $590 million, or $1.53 per share, in the year-ago period.
Revenue fell 6% from last year, to $7.75 billion.
On average, Wall Street analysts expected a smaller profit of $1.51 per share.
The company noted that "Aerospace and Combat Systems margin growth was especially strong," while overall margins rose to 11.8% throughout the company, compared with 11% last year.
General Dynamics shares were mostly flat in premarket trading Wednesday.
The Bottom Line
We have been recommending shares of GD since Mar.25, when the stock was trading at $75.74. The company has a 2.19% dividend yield, based on last night's closing stock price of $76.56.
General Dynamics Corporation ( GD ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
Created by Dividend.com