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General Dynamics Corporation (GD)

  • Tue, Jul. 14, 7:40 PM
    • The commercial aerospace segment still provides opportunities for double-digit gains over the next 18 months, as the "aero cycle has legs," J.P. Morgan analyst Seth Seifman says, initiating coverage of Boeing (NYSE:BA) and several peers with Overweight ratings.
    • Boeing’s cash flow outlook has been controversial, but Seifman views 787 unit cost reduction as a powerful driver that can push free cash flow to $9.1B in 2017, 44% above 2015 estimates with potential for growth beyond; Seifman sees the precedent Boeing set by returning $8B of cash last year as a signal of confidence in future cash flow.
    • General Dynamics' (NYSE:GD) balance sheet might drive upside, while Lockheed Martin (NYSE:LMT) could use its financial strength to create value, but Northrop Grumman (NYSE:NOC) is started at Underweight, as the analyst sees "fewer arrows left in the quiver" and expectations may be too high following recent outperformance in its shares.
    • Initiated at Overweight along with Boeing: GD, LMT, SPR, TDG.
    • Started at Neutral: BEAV, COL, PCP, TGI, TXT, HRS, LLL
    • Earlier: JPMorgan initiates coverage on several aerospace plays
    | Tue, Jul. 14, 7:40 PM | 7 Comments
  • Wed, Jun. 24, 10:39 AM
    • General Dynamics (GD +0.4%) has received the first full rate production order from the U.S. Army to build additional Warfighter Information Network – Tactical Increment 2 systems.
    • The $219M order includes the production of more than 300 vehicle-based network communication nodes along with related equipment and materials.
    | Wed, Jun. 24, 10:39 AM | Comment!
  • Tue, Jun. 16, 3:21 PM
    • Lockheed Martin (NYSE:LMT) says it will team up with Raytheon (NYSE:RTN) and Bombardier (OTCPK:BDRAF, OTCQX:BDRBF) to develop a new surveillance and command and control aircraft for a future U.S. Air Force competition and a share of a contract valued at ~$4.3B.
    • Jets from General Dynamics' (NYSE:GD) Gulfstream Aerospace unit also are being considered to replace the aging fleet of larger Boeing (NYSE:BA) 707 planes that are becoming too costly to fly in their role of monitoring forces on the ground.
    • Northrop (NYSE:NOC) and Boeing also have said they plan to compete for the contract when the Air Force awards a deal, likely in 2016.
    | Tue, Jun. 16, 3:21 PM | Comment!
  • Fri, Jun. 12, 7:46 AM
    • General Dynamics Ordnance and Tactical Systems, a unit of General Dynamics (NYSE:GD), has secured a firm-fixed-price, five-year, contract from the U.S. Army for the demilitarization recycling and disposal of numerous conventional munitions.
    • The contract is worth $225.6M.
    | Fri, Jun. 12, 7:46 AM | Comment!
  • Wed, Jun. 10, 7:33 AM
    • The U.S. State Department has notified Congress it has approved potential arms deals worth nearly $2.4B with South Korea and Lebanon, including three Aegis Shipboard Combat Systems for Seoul and six close air support planes for Beirut.
    • The principal contractors under the deal would be Lockheed Martin (NYSE:LMT), Raytheon (NYSE:RTN) and General Dynamics (NYSE:GD).
    | Wed, Jun. 10, 7:33 AM | Comment!
  • Thu, Jun. 4, 10:11 AM
    • General Dynamics' (GD +0.2%) board of directors has authorized the repurchase of an additional 10M shares of the company's issued and outstanding common stock.
    | Thu, Jun. 4, 10:11 AM | 3 Comments
  • Wed, Jun. 3, 2:34 PM
    • General Dynamics (NYSE:GD) declares $0.69/share quarterly dividend, in line with previous.
    • Forward yield 1.96%
    • Payable Aug. 7; for shareholders of record July 3; ex-div July 1.
    | Wed, Jun. 3, 2:34 PM | Comment!
  • Wed, May 20, 10:32 AM
    • General Dynamics NASSCO, a unit of General Dynamics (GD +0.5%), has been awarded a $36.4M contract for the modernization of the USS Mitscher.
    • The contract has a total potential value of $40M if all options are exercised.
    | Wed, May 20, 10:32 AM | Comment!
  • Wed, Apr. 29, 8:20 AM
    • Earnings from continuing operations of $716M, or $2.14 per diluted share vs. $596M, or $1.71 per diluted share in the same quarter a year ago.
    • Operating margins were 13.2% for Q1, 120 bps higher than 1Q14. Margins grew in three of the company's four business groups.
    • Free cash flow from operations was $647M.
    • Repurchased 4.65M of its outstanding shares during the quarter.
    • Funded backlog of $56B; total backlog of $70.5B.
    • GD +1.4% premarket
    • Q1 results
    | Wed, Apr. 29, 8:20 AM | Comment!
  • Wed, Apr. 29, 7:31 AM
    • General Dynamics (NYSE:GD): Q1 EPS of $2.14 beats by $0.22.
    • Revenue of $7.78B (+7.0% Y/Y) beats by $360M.
    • Press Release
    | Wed, Apr. 29, 7:31 AM | Comment!
  • Tue, Apr. 28, 5:30 PM
  • Wed, Apr. 1, 10:32 AM
    • The U.S. Navy has awarded funding for the construction of DDG 122, the FY2015 Arleigh Burke-class destroyer under contract at General Dynamics' (GD -1.6%) Bath Iron Works unit.
    • The $610.4M contract modification fully funds the ship (which was awarded in 2013 as part of a multi-ship competition for DDG 51 class destroyers).
    • The total value of the five-ship contract is approximately $3.4B.
    | Wed, Apr. 1, 10:32 AM | Comment!
  • Wed, Mar. 25, 12:44 PM
    • General Dynamics (GD -0.3%) is upgraded to Outperform from Sector Perform with a $152 price target at RBC, which believes sufficient consolidation has occurred in the share price following a strong 2014.
    • RBC thinks one of the issues that has probably weighed on the stock has been concern over Gulfstream, and how large cabin demand is likely to fare given potential weakness in overseas markets, and the transition to the G500 and G600.
    • With offsets from a robust U.S. market and improvement at Jet Aviation, the firm expects GD to announce similar aircraft lead times and unchanged Aerospace guidance in its Q1 2015 results.
    | Wed, Mar. 25, 12:44 PM | 1 Comment
  • Tue, Mar. 24, 11:03 AM
    • According to the company's proxy statement, General Dynamics (GD +0.4%) CEO Phebe Novakovic earned $18.99M in fiscal 2014 (not including pension value), a slight bump up from the $18.76M she earned the year before.
    • Novakovic's salary increased to $1.56M, her cash bonus was $4.25M, while the rest of her compensation was wrapped up in equity.
    • Why so much equity? General Dynamics requires its CEO to hold stock with a value equal to 15x their base salary - one of the strictest set of stock ownership guidelines in the industry.
    | Tue, Mar. 24, 11:03 AM | Comment!
  • Tue, Mar. 10, 7:27 AM
    • General Dynamics (NYSE:GD) will deliver two Zumwalt-class destroyers a year later than planned, U.S. Navy officials said, blaming complications related to new technology on the new class of warships.
    • The Navy is adjusting its official baseline for the $22B DDG 1000 ship program to reflect the new delivery dates but the change will not trigger a mandatory review since the resulting cost increase will be under 15%.
    | Tue, Mar. 10, 7:27 AM | Comment!
  • Wed, Mar. 4, 4:29 PM
    • General Dynamics (NYSE:GD) declares $0.69/share quarterly dividend, 11.3% increase from prior dividend of $0.62.
    • Forward yield 2.03%
    • Payable May 8; for shareholders of record April 10; ex-div April 8.
    | Wed, Mar. 4, 4:29 PM | Comment!
Company Description
General Dynamics Corp is an aerospace and defense company. It offers products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding; and communication and information technology systems and solutions.