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General Dynamics Corporation (GD)

- NYSE
  • 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.
    | 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.
    | 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.
    | 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%.
    | 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.
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  • Mon, Feb. 23, 11:02 AM
    • A General Dynamics-led team will continue managing the U.S. Army 's LT2 live training systems that include nearly 300 training ranges worldwide, under a new five-year contract that has a total potential value of $415M.
    • The General Dynamics (GD -0.4%) team was awarded the original CPM program contract in 2009 by the Program Executive Office for Simulation, Training and Instrumentation Program Manager for Training Devices.
    | 2 Comments
  • Wed, Feb. 18, 8:58 AM
    • As a step toward providing allied nations with weapons, the U.S. government has established a policy that will permit the widespread export of armed drones for the first time.
    • Under the new rules, foreign governments' requests for drones will be examined on a case-by-case basis, while recipient nations must agree to certain "end-use assurances."
    • To date, the U.S. has sold its armed drones only to Britain. Unarmed military drones, used primarily for intelligence, have been sold to several countries, including France and Italy.
    • The shift in policy comes just days after the FAA proposed rules that would lift some restrictions on drones for commercial use.
    • Related stocks: AVAV, NOC, TXT, LMT, LLL, RTN, BA, SAIC, GD, OA, COL, UTX
    | 6 Comments
  • Tue, Feb. 17, 10:58 AM
    • The U.S. Army has awarded General Dynamics (GD -0.5%) Land Systems $49.7M under an existing contract to upgrade M1A1 Abrams tanks to the M1A2 SEP V2 configuration.
    • The configuration includes improved color displays, day and night thermal sights, a commander remote operated weapon station, a Thermal Management System and a tank-infantry phone.
    • GD shares have climbed 29% in the past 52 weeks.
    | 2 Comments
  • Wed, Jan. 28, 3:35 PM
    • The two top makers of business jets say demand continues to improve, with General Dynamics (GD +0.1%) planning to boost output of its high-end Gulfstream planes as more U.S. companies place orders.
    • Gulfstream and Cessna-maker Textron (TXT +2.7%) are both introducing new aircraft but had trimmed production of existing models after weaker global demand in the wake of the financial crisis.
    • Gulfstream's performance helped GD's Q4 results beat Wall Street expectations; CEO Phebe Novakovic says Q4 was Gulfstream's best sales quarter in three years, and that GD plans to boost production of its midsize jets in 2015 while leaving output of larger planes at existing levels.
    • TXT CEO Scott Donnelly says the company had yet to boost Cessna production, though it had the capacity to increase output later in the year.
    | Comment!
  • Wed, Jan. 28, 7:30 AM
    • Earnings from continuing operations of $737M, or $2.19 per diluted share, vs. $624M, or $1.76 per diluted share in the same quarter a year ago.
    • Operating margins were 12.8% for Q4, 130 bps higher than fourth-quarter 2013 margins.
    • Free cash flow from operations of $3.2B for the year.
    • Total backlog at the end of the quarter was up 58% Y/Y to $72.4B.
    • GD +0.6% premarket
    • Q4 results
    | 2 Comments
  • Wed, Jan. 28, 7:01 AM
    • General Dynamics (NYSE:GD): Q4 EPS of $2.19 beats by $0.06.
    • Revenue of $8.36B (+3.9% Y/Y) beats by $320M.
    • Press Release
    | Comment!
  • Tue, Jan. 27, 5:30 PM
  • Thu, Jan. 22, 10:20 AM
    • General Dynamics (GD +0.3%) CEO Nadia Short told Reuters in an interview this week that recent high-profile cyber attacks were boosting demand from government agencies for better protections against breaches by insiders.
    • Insider attacks are often difficult to eliminate completely, said Short, but the company offers services that can detect unusual behaviors that almost always precede such incidents.
    • Short also welcomed President Obama's push for cyber security legislation and greater sharing of information by industry and government about potential threats.
    | Comment!
  • Wed, Jan. 21, 9:47 AM
    • General Dynamics (GD +0.1%) will report Q4 results on Jan. 28. The conference call is scheduled to begin at 9:00 a.m. EST.
    • Consensus view is EPS of $2.13 on revenues of $8B.
    | Comment!
  • Tue, Jan. 13, 11:17 AM
    • Under a new $26.2M deal, General Dynamics (GD +1.5%) Land Systems will supply the Naval Sea Systems Command with MK46 Modification 2 Gun Weapon Systems.
    • The weapons platform will be used on Littoral Combat and Zumwalt-class ships.
    | Comment!
  • Fri, Jan. 9, 8:38 AM
    • A joint venture between Raytheon (NYSE:RTN) and General Dynamics (NYSE:GD), called Range Generation Next, has been awarded a 1.5B contract to operate launch ranges at Florida's Space Coast and Vandenberg Air Force Base in California.
    • Potentially a multi-billion-dollar deal, the award includes nine one-year options.
    | 1 Comment
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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.