General Dynamics

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $290, up $15, reflects a 17.5x multiple of projected 2025 EPS, slightly above GD’s historical forward average. We think a modest premium is reasonable given what should be an improving operating margin environment. We cut our 2024 EPS estimate by $0.06 to $14.61 and 2025’s by $0.04 to $16.59. Q1 EPS of $2.88 vs. $2.64 missed the consensus view by $0.06. Operating margins of 9.7% rose 20 basis points vs. the year-ago quarter and backlog rose 4% from year-end 2023. There is light at the end of the tunnel for the G700, which obtained certification in late Q1, but too late to make any deliveries in Q1. Nonetheless, GD is maintaining its guidance of 50-52 G700 deliveries in 2024. On a positive […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $275, raised $20, reflects a 16.5x multiple of projected ’25 EPS, slightly above GD’s long-term historical forward average. We think a modest premium is reasonable given what should be an improving operating margin environment. We cut our ’24 EPS estimate by $0.17 to $14.67 and start ’25’s at $16.63. Q4 EPS of $3.64 vs. $3.58, missed the consensus view by $0.03, but we believe the miss was due entirely to the Gulfstream G700 not being certified by year-end, yielding fewer sales of the G700 in Q4 than expected. We do think GD can recover most of the lost ground on this front in ’24. GD’s book-to-bill ratio in Q4 in Aerospace was a solid 1.2x, and we think this augurs well over

UBS analyst Gavin Parsons maintains General Dynamics (NYSE:GD) with a Neutral and raises the price target from $286 to $296.

General Dynamics (NYSE:GD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 — Alembic Global Downgrades Overweight → Neutral 01/25/2024 13.16% Citigroup $283 → $300 Maintains Buy 01/25/2024 13.16% RBC Capital → $300 Reiterates Outperform → Outperform 10/26/2023 7.51% Susquehanna $270 → $285 Maintains Positive 10/26/2023 -0.41% Wells Fargo $243 → $264 Maintains Overweight 10/11/2023 -0.04% UBS → $265 Initiates Coverage On → Neutral 09/28/2023 2.23% Deutsche Bank → $271 Initiates Coverage On → Buy 09/26/2023 -2.68% Berenberg $254 → $258 Maintains Market Perform 09/25/2023 1.85% Susquehanna → $270 Reiterates Positive → Positive 09/19/2023 6.75% Citigroup $283 → $283 Maintains Buy 09/18/2023 -8.34% Wells Fargo $258 → $243 Maintains Overweight 07/28/2023 -2.68% Wells Fargo $244 → $258 Maintains Overweight 07/27/2023 -5.7% Morgan Stanley $248 → $250 Maintains Equal-Weight 07/27/2023 1.85% RBC Capital → $270 Reiterates Outperform → Outperform 07/27/2023 -5.32% JP Morgan

General Dynamics (NYSE:GD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 14.1% RBC Capital → $300 Reiterates Outperform → Outperform 10/26/2023 8.39% Susquehanna $270 → $285 Maintains Positive 10/26/2023 0.41% Wells Fargo $243 → $264 Maintains Overweight 10/11/2023 0.79% UBS → $265 Initiates Coverage On → Neutral 09/28/2023 3.07% Deutsche Bank → $271 Initiates Coverage On → Buy 09/26/2023 -1.88% Berenberg $254 → $258 Maintains Market Perform 09/25/2023 2.69% Susquehanna → $270 Reiterates Positive → Positive 09/19/2023 7.63% Citigroup $283 → $283 Maintains Buy 09/18/2023 -7.58% Wells Fargo $258 → $243 Maintains Overweight 07/28/2023 -1.88% Wells Fargo $244 → $258 Maintains Overweight 07/27/2023 -4.92% Morgan Stanley $248 → $250 Maintains Equal-Weight 07/27/2023 2.69% RBC Capital → $270 Reiterates Outperform → Outperform 07/27/2023 -4.54% JP Morgan $245 → $251 Maintains Overweight 04/27/2023 2.69% RBC Capital $280 → $270 Maintains Outperform 04/27/2023 -4.54%

General Dynamics (GD) reported Q4 earnings Wednesday of $3.64 per diluted share, up from $3.58 a year earlier. The company shares were up more than 5% in recent Wednesday trading. Analysts polled by Capital IQ expected $3.62. Revenue for the quarter ended Dec. 31 was $11.67 billion, up from $10.85 billion a year earlier. Analysts surveyed by Capital IQ expected $11.47 billion.

General Dynamics (NYSE:GD) reported quarterly earnings of $3.64 per share which missed the analyst consensus estimate of $3.71 by 1.89 percent. The company reported quarterly sales of $11.70 billion which beat the analyst consensus estimate of $11.37 billion by 2.88 percent. This is a 7.82 percent increase over sales of $10.85 billion the same period last year.

By Will Feuer General Dynamics reported higher sales for the fourth quarter, powered by strong demand for the company’s aerospace unit and its marine systems business, which makes nuclear-powered submarines. The aerospace and defense company reported a profit of $1.01 billion, or $3.64 a share, up from $992 million, or $3.58 a share, in the same period a year earlier. Analysts surveyed by FactSet expected $3.68 a share. Revenue rose nearly 8% to $11.67 billion. Analysts expected $11.39 billion. Sales jumped nearly 15% in the company’s marine-systems unit and 12% in the aerospace division. Combat-systems sales rose almost 9%. Chief Executive Phebe Novakovic said the company’s aerospace unit is well-positioned to see a surge in deliveries once the Federal Aviation Administration certifies the Gulfstream G700 Write to Will Feuer at Will.Feuer@wsj.com

General Dynamics Announces Personnel Moves PR Newswire RESTON, Va., Jan. 5, 2024 RESTON, Va., Jan. 5, 2024 /PRNewswire/ — General Dynamics (NYSE:GD) announced today that Mark Roualet, who currently serves as executive vice president of Combat Systems, has informed the company that he will retire in April. He will be succeeded by Danny Deep, who currently serves as president of General Dynamics Land Systems, effective April 15. “Mark has served General Dynamics with distinction for over 40 years with a demonstrated record of operational excellence,” said Phebe Novakovic, chairman and chief executive officer. “Danny is a capable, tested leader with a deep background in operations and land forces programs,” said Novakovic. 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

Wells Fargo analyst Sarah Akers maintains General Dynamics (NYSE:GD) with a Overweight and raises the price target from $243 to $264.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price of $255, 17.2x our 2024 EPS estimate (kept at $14.84; 2023 EPS lifted to $12.65 from $12.43), above GD’s five-year forward P/E average given a strong global defense environment. GD posted Q3 EPS of $3.04 vs. $3.26 (-7% Y/Y), $0.10 above consensus. We attribute the decline in EPS to a Y/Y contraction of operating margins (-100 bps) on supply chain pressures. Q3 revenue rose 6% over the prior year, driven by accelerated growth in Combat Systems (+24%; 21% of total Q3 sales), which more than offset a double-digit decline in GD’s aerospace business (-13%; 19% of sales). Softness in aero was led by fewer deliveries of Gulfstream jets due to supply chain constraints. We expect supply chain challenges to linger into

UBS analyst Gavin Parsons initiates coverage on General Dynamics (NYSE:GD) with a Neutral rating and announces Price Target of $265.