Dernières nouvelles pour General Dynamics (NYSE:GD) Stock

General Dynamics

General Dynamics is a defense contractor and business jet manufacturer. The firm's segments include aerospace, marine, combat systems, and technology. General Dynamics' aerospace segment manufactures Gulfstream business jets and operates a global aircraft servicing operation. Combat systems produces land-based combat vehicles such as the M1 Abrams tank and Stryker armored personnel carrier, as well as munitions. The marine segment builds and services nuclear-powered submarines, destroyers, and other ships. The technologies segment contains two main units: an IT business that primarily serves the government market and a mission systems business that focuses on products that provide command, control, computing, intelligence, surveillance, and reconnaissance capabilities to the military.

General Dynamics Corporation Common Stock

General Dynamics Corp

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News

Contracts

General Dynamics' Gulfstream Aerospace Secures $991M Contract to Provide Logistics Support for U.S. Military Aircraft Fleets Over Seven Years

President-elect Donald Trump has spent the week following <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">his election win</a> penciling in cabinet picks. His choice for Defense Secretary, Pete Hegseth, is raising eyebrows. 
The Pick: Hegseth was a co-host on Fox Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>) &#8220;Fox &amp; Friends,&#8221; Trump&#8217;s favorite television show. 
The Minnesota native, an Iraq and Afghanistan War veteran, has never held a government position. Hegseth has been a strong supporter of Trump since 2016.
<a href="https://apnews.com/article/trump-hegseth-defense-secretary-pentagon-2d8030921ecef933778cf92afd40ec72">According</a> to the Associated Press, Trump encouraged his supporters to buy Hegseth's book in June and said that if he won the election, "The woke stuff will be gone within a period of 24 hours. I can tell you."
Hegseth supports removing women from combat roles in the military, <a href="https://www.independent.co.uk/news/world/americas/us-politics/pete-hegseth-defense-secretary-trump-women-military-b2646325.html">according</a> to The Independent. 
Why it Matters: Trump&#8217;s selection of Hegseth surprised many Wall Street observers, <a href="https://www.barrons.com/amp/articles/trump-defense-secretary-pete-hegseth-stocks-d9af9d58">according</a> to Barron&#8217;s. The television host was not on the radar of research analysts.
Trump announced plans Tuesday to appoint Elon Musk and Vivek Ramaswamy to form the <a href="https://www.benzinga.com/government/regulations/24/11/41931503/trump-forms-doge-with-elon-musk-and-vivek-ramaswamy-at-the-helm-will-it-impact-tesla-ceos-role-at-the-ev-giant-and-spacex">&#8220;Department of Government Efficiency,&#8221;</a> aimed to &#8220;cut wasteful expenditures.&#8221; 
The sprawling U.S. military complex, which now <a href="https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/">comprises</a> 13% of the federal budget at nearly $1 trillion, has been unable to pass an independent audit for the last six years, <a href="https://www.reuters.com/world/us/pentagon-fails-audit-sixth-year-row-2023-11-16/">according</a> to Reuters.
Wall Street is apparently not worried that Musk and Ramaswamy will gut military spending to federal contractors. The iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) has risen over 7% since Trump&#8217;s election win. General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Rtx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) have posted gains in that period.
What&#8217;s Next: Several Democratic Party politicians <a href="https://x.com/SenWarren/status/1856502912551158049">including</a> Senator Elizabeth Warren voiced disapproval of Trump&#8217;s pick, citing Hegseth&#8217;s lack of experience. The &#8220;Fox &amp; Friends&#8221; anchor will face a confirmation hearing in the Senate following Trump&#8217;s inauguration.
Also Read:
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<li><a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">Trump Appoints Elon Musk And Vivek Ramaswamy To Lead &#8216;DOGE,&#8217; Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: &#8216;We Will Not Go Gently&#8217;</a></li>
</ul>
Photo courtesy of Wikimedia.

Government

Politics

FOXA

iShares Dow Jones US Aerospace & Defense Index Fund

Trump's Surprise Defense Secretary Pick Pete Hegseth Jolts Wall Street

<a href="https://www.cnn.com/2024/11/08/politics/biden-administration-american-military-contractors-deploy-ukraine/index.html">https://www.cnn.com/2024/11/08/politics/biden-administration-american-military-contractors-deploy-ukraine/index.html</a>
&nbsp;
The Biden administration has lifted a de facto ban on American military contractors deploying to <a href="https://www.cnn.com/world/europe/ukraine">Ukraine</a> to help the country's military maintain and repair US-provided weapons systems, particularly F16 fighter jets and Patriot air defense systems, an official with direct knowledge of the plan told CNN.
The new policy, approved earlier this month before the election, would allow the Pentagon to provide contracts to American companies for work inside Ukraine for the first time since <a href="https://www.cnn.com/world/europe/russia">Russia</a> invaded in 2022. Officials said they hope it will speed up the maintenance and repairs of weapons systems being used by the Ukrainian military.
It is not clear whether Donald Trump will keep the policy in place when he takes office in January. Trump has said he hopes to end the war between Ukraine and Russia "within 24 hours" of returning to power.
"In order to help Ukraine repair and maintain military equipment provided by the US and its allies, DoD (Department of Defense) is soliciting bids for a small number of contractors who will help Ukraine maintain the assistance we've already provided," a defense official said.
"These contractors will be located far from the front lines and they will not be fighting Russian forces. They will help Ukrainian Armed Forces rapidly repair and maintain US provided equipment as needed so it can be quickly returned to the front lines."
The defense official confirmed that the US is moving forward with the plan because several of the systems the US has provided Ukraine, particularly F-16s and Patriots, "require specific technical expertise to maintain."
The shift marks another significant change <a href="https://www.cnn.com/2024/06/20/politics/ukraine-us-air-defense-capabilities/index.html">in the Biden administration's Ukraine policy</a>, as the US looks for ways to give Ukraine's military an upper hand against Russia. The Pentagon is expected to start listing the contracts online soon, the official said.
Over the last two years, Biden has insisted that all Americans, and particularly US troops, stay far away from the Ukrainian frontlines. The White House has been determined to limit both the danger to Americans and the perception, particularly by Russia, that the US military is engaged in combat there. The State Department has explicitly warned Americans against traveling to Ukraine since 2022.
As a result, US-provided military equipment that has sustained significant damage in combat has had to be transported out of the country to Poland, Romania, or other NATO countries for repairs, a process which takes time. US troops have also been available to help the Ukrainians with more routine maintenance and logistics, but only from afar via video chat or secure phone—an arrangement that has come with inherent limitations, since US troops and contractors are not able to work directly on the systems.
Allowing experienced, US government-funded American contractors to maintain a presence in Ukraine means they will be able to help fix damaged, high-value equipment much faster, officials have told CNN. One advanced system that officials say will likely require regular maintenance is the F-16 fighter jet, which Ukraine received earlier this year.
Companies bidding for the contracts would be required to develop robust risk mitigation plans to reduce threats to their employees, officials told CNN.
"The Department made this decision after careful risk assessment and in coordination with interagency stakeholders," the defense official said. "Each US contractor, organization or company will be responsible for the safety and security of their employees and will be required to include risk mitigation plans as part of their bids."
Current and former officials familiar said the policy change will not result in the kind of major American contractor presence that existed in Iraq and Afghanistan. Instead, it would likely result in anywhere from a few dozen to a couple hundred contractors working in Ukraine at a time.
"It is worth noting that there already are a wide array of American companies who have personnel in Ukraine fulfilling contracts for the Ukrainian government, so this will not lead to a substantial increase of employees of US companies working on the ground in Ukraine," the defense official said.

Macro Economic Events

Global

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'Biden Administration To Allow American Military Contractors To Deploy To Ukraine For First Time Since Russia's Invasion' - CNN

Macro Notification

Pentagon Lifts Ban On U.S. Defense Contractors In Ukraine To Repair US-Supplied Weaponry

Invesco has unveiled a new series of thematic exchange-traded funds (ETFs) that focus on artificial intelligence, cybersecurity, and defense sectors. These funds aim to leverage emerging trends within these industries.
What Happened: The newly introduced ETFs, named Invesco Artificial Intelligence Enablers, Cybersecurity, and Defence Innovation Ucits, are based on benchmarks crafted by Kensho, a division of S&amp;P Global Indices. Kensho utilizes natural language processing to pinpoint companies with significant involvement in each theme, categorizing them into &#8220;core&#8221; and &#8220;non-core&#8221; groups, Financial Times<a href="https://www.ft.com/content/476d3e81-cbd2-4484-8fb5-4a074dcaa97c"> reported</a> on Thursday.
As per Invesco, core companies generate a substantial portion of their revenue from products and services aligned with these themes, while non-core companies provide essential inputs without focusing on end products. The AI enablers strategy targets firms advancing AI technology and infrastructure, whereas the cybersecurity ETF invests in companies protecting enterprises from unauthorized electronic access. The defense fund provides exposure to companies developing advanced weapons and defensive systems
Here are a few ETFs and how they fared in the past year, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>:
Artificial Intelligence
<ul>
<li>iShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) increased 45.40% over the year with holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).</li>
<li>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>), with similar exposure, rose 43.17%.</li>
<li>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTX#NYSE">FTX</a>), which gives exposure to Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), increased 45.59%.</li>
</ul>
Cybersecurity
<ul>
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) increased 38.08%. Its holdings include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).</li>
<li>Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>) rose 39.57%. Along with Broadcom, and Cisco, the ETF&#8217;s major holdings also include Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), and General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>).</li>
<li>iShares Cybersecurity &amp; Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>) with exposure to companies such as SentinelOne, Inc. Class A (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>), and Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), rose 33.95%.</li>
</ul>
Defense
<ul>
<li>iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) with exposure to companies such as General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) increased 33.86%.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) with exposure to companies such as Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) increased by 43.05%.</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) was up by 34.86%. It gives exposure to Axon Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXN#NASDAQ">AXN</a>), L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>).</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year</a>
Why It Matters: The launch of these ETFs by Invesco comes at a time when thematic investing is<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41713236/donald-trumps-return-to-white-house-could-propel-these-etfs-to-new-highs"> gaining traction among investors</a> looking to capitalize on specific industry trends. The focus on artificial intelligence, cybersecurity, and defense aligns with growing global interest in these areas, driven by technological advancements and increasing security concerns.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Invesco

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AMZN

AVGO

CIBR

CRWD

CSCO

FTEC

FTNT

HACK

IHAK

MSFT

NFLX

PANW

Invesco Launches New ETFs Targeting AI, Cybersecurity, And Defense. Here's How Some Of Their Peers Have Performed In The Past Year

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Shares of aerospace and defense companies are trading higher after Donald Trump won the 2024 presidential election.

Election Day is here. A win for Republican Donald Trump or Democrat Kamala Harris could <a href="https://www.benzinga.com/general/politics/24/11/41750069/80-million-votes-cast-in-early-voting-mail-in-voting-before-election-day-over-50-of-2020-electio">move different market sectors</a>. 
Here is a list of stocks to watch as the country <a href="https://www.benzinga.com/markets/equities/24/11/41724383/wall-street-struggles-ahead-of-election-day-energy-sector-outperforms-solar-stocks-rise-whats-dr">waits for the final tally.</a> 
Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares are climbing on heavy trading volume on the final day of voting. The stock soared 270% from its September lows as investors speculate on a potential Trump victory. Matthew Tuttle, CEO of investment fund Tuttle Capital Management, has <a href="https://www.benzinga.com/news/24/10/41608242/trump-media-technology-stock-soars-after-msg-rally-will-the-gains-hold">called the stock</a> "a binary bet on the election." However, some analysts <a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">​​suggest</a> the stock could plummet if <a href="https://www.benzinga.com/general/politics/24/09/40783924/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-makes-final-call-says-">Trump loses the election</a>. 
Read More: <a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares &#8216;Worthless&#8217;</a>
XOM, FSLR: Investors are watching Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) stock as traditional energy companies <a href="https://www.benzinga.com/markets/equities/24/11/41724383/wall-street-struggles-ahead-of-election-day-energy-sector-outperforms-solar-stocks-rise-whats-dr">could gain </a>from favorable oil and gas policies under a Trump administration. It&#8217;s worth noting that the <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">U.S. produced more oil</a> under the Biden administration than at any point under the Trump administration. Conversely, solar energy companies like First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) are on watch as they could benefit from Harris' support of renewable energy policies and climate initiatives. 
RTX: Wall Street analysts are generally bullish on defense stocks in the event of a Trump victory putting shares of RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) under watch as the polls close.  RTX, formerly Raytheon Technologies, is one of the &#8220;Big Five&#8221; defense contractors which are likely to benefit from increased <a href="https://www.benzinga.com/news/24/10/41332235/why-raytheon-parent-rtx-stock-is-up">defense spending</a>. General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) and Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) are other defense contractors stocks to watch. 
LEN: Homebuilders' stocks such as Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) could gain from Harris&#8217; plans to promote homeownership if elected. One Harris proposal includes providing up to $25,000 in down payment assistance for first-time homebuyers who have paid their rent on time for two years. Other home builders to watch include D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) and KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>). 
Read Also:&nbsp;
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</ul>
Image: Shutterstock

Movers

FSLR

PLTR

5 Stocks To Watch On Election Day: Trump Media, Exxon, First Solar, RTX, Lennar

Deutsche Bank analyst Scott Deuschle maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Hold and lowers the price target from $309 to $306.

Price Target

Analyst Ratings

Deutsche Bank Maintains Hold on General Dynamics, Lowers Price Target to $306

Barclays analyst David Strauss maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Overweight and raises the price target from $325 to $330.

Barclays Maintains Overweight on General Dynamics, Raises Price Target to $330

Bernstein analyst Douglas Harter maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Market Perform and lowers the price target from $343 to $331.

Bernstein Maintains Market Perform on General Dynamics, Lowers Price Target to $331

RBC Capital analyst Ken Herbert maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Outperform and raises the price target from $320 to $330.

RBC Capital Maintains Outperform on General Dynamics, Raises Price Target to $330

Wells Fargo analyst Matthew Akers maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Equal-Weight and raises the price target from $317 to $322.

Wells Fargo Maintains Equal-Weight on General Dynamics, Raises Price Target to $322

General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) reported mixed <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41483717/general-dynamics-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">third-quarter fiscal 2024 results</a>. Revenue for the quarter increased 10.4% year over year to $11.671 billion, beating the consensus of $11.641 billion.
EPS was $3.35 (up 10.2% YoY), below the consensus of $3.53.
Gulfstream delivered 28 aircraft in the quarter, including 24 large-cabin models, compared to 27 deliveries last year.
Operating earnings rose 11.7% Y/Y to $1.181 billion, and the margin expanded 12 basis points YoY to 10.1%.
"The company continues to see strong growth and steady improvement in operating performance Demand across the portfolio also remains strong in the current environment," commented Phebe Novakovic, chairman and chief executive officer.&nbsp;&nbsp;
Revenue by segments: Aerospace $2.482 billion (+221% Y/Y), Marine Systems $3.599 billion (+19.9% Y/Y), Combat Systems $2.212 billion (-0.5% Y/Y), and Technologies $3.378 billion (+2% Y/Y).
GD's net cash provided by operating activities for the nine months ended September 29, 2024, stood at $1.952 billion.
Net cash provided by operating activities in the quarter was $1.4 billion, or 152% of net earnings.
GD paid $390 million in dividends, invested $201 million in capital expenditures, and repurchased $44 million in shares, ending with $2.1 billion in cash.
The consolidated book-to-bill ratio for the quarter was 1.1-to-1. The company-wide backlog stood at $92.6 billion, with an estimated potential contract value of $45 billion. The total estimated contract value was $137.6 billion.
In the Aerospace segment, orders in the quarter totaled $2.4 billion, growing backlog to $19.8 billion (up 2.8% Y/Y). Defense segments, orders totaled $10.5 billion, with particular strength in Combat Systems.
Price Action: 
GD shares are trading higher by 0.003% at $306 premarket at the last check Wednesday.
Image: Shutterstock

Earnings

General Dynamics Delivers Mixed Q3 Performance, Aerospace And Marine Systems Lead Revenue Gains

Guidance

General Dynamics Exec Says Company Expects 2024 Sales Of $12.3B In Aerospace Segment, With 150 Jet Deliveries Versus Previous Estimate Of 160; Expects 2024 Revenue Of $13.9B In Marine Systems Segment, With Margins Of 6.9%

General Dynamics Exec Says Company Expects Total Annual Revenue Of $48B With Margins Of 10.3%

General Dynamics Q3 Operating Earnings $1.2B, +11.7% Y/Y

General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) reported quarterly earnings of $3.35 per share which missed the analyst consensus estimate of $3.53 by 5.1 percent. This is a 10.2 percent increase over earnings of $3.04 per share from the same period last year. The company reported quarterly sales of $11.671 billion which beat the analyst consensus estimate of $11.641 billion by 0.26 percent. This is a 10.41 percent increase over sales of $10.571 billion the same period last year.

Earnings Beats

Earnings Misses

General Dynamics Q3 2024 GAAP EPS $3.35 Misses $3.53 Estimate, Sales $11.671B Beat $11.641B Estimate

General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-10-23. Here's what investors need to know before the announcement.
Analysts estimate that General Dynamics will report an earnings per share (EPS) of $3.62. 
General Dynamics bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings Track Record</h3>
Last quarter the company missed EPS by $0.01, which was followed by a 2.22% increase in the share price the next day.
Here's a look at General Dynamics's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>3.27</td>
<td>2.93</td>
<td>3.68</td>
<td>2.91</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3.26</td>
<td>2.88</td>
<td>3.64</td>
<td>3.04</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>1.0%</td>
<td>2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729605714_0_0.png" alt="eps graph" />
<h3>General Dynamics Share Price Analysis</h3>
Shares of General Dynamics were trading at $308.08 as of October 21. Over the last 52-week period, shares are up 26.1%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Insights on General Dynamics</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on General Dynamics.
The consensus rating for General Dynamics is Outperform, derived from 10 analyst ratings. An average one-year price target of $330.1 implies a potential 7.15% upside.
<h3>Comparing Ratings with Competitors</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Northrop Grumman, L3Harris Technologies and Howmet Aerospace, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>Northrop Grumman received a Neutral consensus from analysts, with an average 1-year price target of $554.73, implying a potential 80.06% upside.</li>
<li>L3Harris Technologies received a Outperform consensus from analysts, with an average 1-year price target of $266.64, implying a potential 13.45% downside.</li>
<li>The consensus among analysts is an Outperform trajectory for Howmet Aerospace, with an average 1-year price target of $113.0, indicating a potential 63.32% downside.</li>
</ul>
<h3>Analysis Summary for Peers</h3>
The peer analysis summary outlines pivotal metrics for Northrop Grumman, L3Harris Technologies and Howmet Aerospace, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>General Dynamics</td>
<td>Outperform</td>
<td>17.97%</td>
<td>$1.80B</td>
<td>4.17%</td>
</tr>
<tr>
<td>Northrop Grumman</td>
<td>Neutral</td>
<td>6.70%</td>
<td>$2.19B</td>
<td>6.59%</td>
</tr>
<tr>
<td>L3Harris Technologies</td>
<td>Outperform</td>
<td>12.91%</td>
<td>$1.36B</td>
<td>1.95%</td>
</tr>
<tr>
<td>Howmet Aerospace</td>
<td>Outperform</td>
<td>14.08%</td>
<td>$593M</td>
<td>6.45%</td>
</tr>
</tbody>
</table>

Key Takeaway:
General Dynamics ranks at the top for Revenue Growth and Gross Profit among its peers. It is in the middle for Return on Equity.
<h3>Get to Know General Dynamics Better</h3>
General Dynamics is a defense contractor and business jet manufacturer. The firm's segments include aerospace, marine, combat systems, and technology. General Dynamics' aerospace segment creates Gulfstream business jets and operates a global aircraft servicing operation. Combat systems produces land-based combat vehicles such as the M1 Abrams tank and Stryker armored personnel carrier, as well as munitions. The marine segment builds and services nuclear-powered submarines, destroyers, and other ships. The technologies segment contains two main units, an IT business that primarily serves the government market and a mission systems business that focuses on products that provide command, control, computing, intelligence, surveillance, and reconnaissance capabilities to the military.
<h3>Financial Insights: General Dynamics</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: General Dynamics's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 17.97%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: General Dynamics's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.56% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): General Dynamics's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 4.17%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): General Dynamics's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.64%, the company showcases efficient use of assets and strong financial health.
Debt Management: General Dynamics's debt-to-equity ratio is below the industry average at 0.5, reflecting a lower dependency on debt financing and a more conservative financial approach.
<a href="https://www.benzinga.com/quote/GD/earnings">To track all earnings releases for General Dynamics visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights Ahead: General Dynamics's Quarterly Earnings

Susquehanna analyst Charles Minervino maintains General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) with a Positive and raises the price target from $333 to $352.

Susquehanna Maintains Positive on General Dynamics, Raises Price Target to $352

Lockheed Martin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>) is slated to release third-quarter 2024 results on Oct. 22, before the opening bell.
The Zacks Consensus Estimate for revenues is pegged at $17.28 billion, implying 2.4% growth from the year-ago quarter&#39;s reported figure. The consensus mark for third-quarter earnings is pegged at $6.43 per share, suggesting a 5% decline from $6.77 reported in the prior-year quarter. The bottom-line estimate has inched up 0.5% in the past 60 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/09/81360.jpg?v=1222979733" style="height:300px; width:650px" />
Image Source: Zacks Investment Research
LMT, America&#39;s largest defense contractor, has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 7.46%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/85/81362.jpg?v=2138496260" style="height:300px; width:625px" />
Image Source: Zacks Investment Research
<h2>Earnings Whisper for LMT</h2>
Our proven model predicts an earnings beat for Lockheed this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Lockheed has a Zacks Rank #3 and an Earnings ESP of +2.46%.
<h2>Factors Shaping LMT&#39;s Upcoming Q3 Results</h2>
A potential solid sales improvement from each of LMT&#39;s four business segments is likely to have bolstered the company&#39;s top-line performance.
Aeronautics to Post Solid Sales
The Aeronautics segment, which primarily manufactures advanced, combat-proven jets, and contributes almost 40% to the company&#39;s top line, is likely to deliver impressive third-quarter results.
A ramp-up in the production of the F-16 program, along with higher sales volume from production and sustainment contracts for the F-35 program, is likely to have bolstered this segment&#39;s top line.
The Zacks Consensus Estimate for the Aeronautics unit&#39;s third-quarter revenues is pegged at $6,764.8 million, indicating a 0.7% rise from the prior-year period&#39;s reported figure.
Impressive Projections From Other Segments
The remaining three segments are also projected to have performed favorably in the to-be-reported quarter.
Higher sales volume from the hypersonic development programs, along with Fleet Ballistic Missile (FBM), transport layer and other space exploration programs must have boosted the Space segment&#39;s top line. &nbsp;
The Zacks Consensus Estimate for the segment&#39;s revenues is pinned at $3,174 million, indicating a 2.3% improvement from the prior-year quarter&#39;s reported number.
LMT&#39;s Missiles and Fire Control (&quot;MFC&quot;) segment provides critical missile defense support to the United States and foreign allies. A higher sales volume, resulting from the production ramp-up of the Guided Multiple Launch Rocket Systems and Long Range Anti-Ship Missile programs, is likely to have benefited this unit&#39;s quarterly sales performance.
The Zacks Consensus Estimate for MFC&#39;s third-quarter revenues is currently pegged at $3,116.7 million, indicating 6% growth from the top line recorded a year ago.
Higher sales volume from the Sikorsky unit, particularly driven by CH-53K and Blackhawk helicopters, is likely to have bolstered the Rotary and Mission Systems (&quot;RMS&quot;) segment&#39;s sales in the quarter under review.
The solid production ramp-up of this unit&#39;s laser systems portfolio and higher sales volume of radar might have also contributed favorably to RMS&#39; third-quarter top line.
The Zacks Consensus Estimate for the unit&#39;s revenues is currently pegged at $4,203.1 million, indicating a 2% improvement from the top line registered a year ago.
<h2>Outlook for LMT&#39;s Q3 Bottom-Line</h2>
Higher interest expenses remain a headwind for the majority of U.S. companies, with Lockheed being no exception. With the Federal Reserve having cut the nation&#39;s interest rate in the second half of September, notable interest expenses can be expected to have weighed on LMT&#39;s third-quarter earnings.
Our model estimate for third-quarter interest expenses is $249.8 million, reflecting a solid 5.4% increase year over year. &nbsp;
During the first quarter of 2024, LMT recognized a reach-forward loss of $100 million associated with a classified missile program at its MFC unit. This, in turn, adversely impacted this unit&#39;s operating profit in the second quarter as well. With a potential loss of $350 million associated with this program, LMT might have also incurred a notable loss in its MFC unit in the third quarter. This, in turn, is likely to have adversely impacted its margin performance and, thereby, bottom-line growth.
Also, the unfavorable cost pressure faced by its Sikorsky business might have had affected LMT&#39;s overall earnings performance in the third quarter, outweighing the favorable impacts of solid top-line growth.
<h2>Price Performance &amp; Valuation</h2>
Lockheed&#39;s shares have exhibited an upward trend, gaining a notable percentage over the year-to-date period. Specifically, the stock has risen 33.5% year to date, outperforming the Zacks aerospace-defense industry&#39;s decline of 7.3%.
YTD Performance
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/00/81358.jpg?v=1164827600" />
Image Source: Zacks Investment Research
As evident from the image, other notable stocks from the same industry have also rallied year to date and comfortably outpaced the industry&#39;s performance. Shares of L3Harris Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lhx#NYSE">LHX</a>), General Dynamics (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gd#NYSE">GD</a>) and Textron (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/txt#NYSE">TXT</a>) have rallied 16.5%, 15.6% and 9.3%, respectively. &nbsp;
From a valuation perspective, LMT is trading at a premium when compared to its industry. Currently, LMT is trading at 21.39X forward 12-month earnings, which is higher than the industry&#39;s forward earnings multiple of 19.29. Also, its five-year median is 15.82X. So, the company&#39;s valuation also looks stretched compared with its own range.
LMT&#39;s Price-to-Earnings (forward 12 Months)
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7b/81359.jpg?v=1899268921" />
Image Source: Zacks Investment Research
<h2>Investment Thesis</h2>
Widespread hostilities engulfing the global defense map in recent times have prompted nations worldwide to ramp up their defense arsenal significantly. This has been acting as a solid growth catalyst for defense contractors like Lockheed in the form of solid contract wins. We may thus expect LMT&#39;s third-quarter results to duly reflect this in terms of notable revenue growth.
Backed by its solid top-line prospects, the company has been offering notable rewards to its shareholders. Impressively, LMT&#39;s dividend yield of 2.08% outpaces that of the S&amp;P 500 (1.22%).
However, persistently high interest expenses remain a major headwind for the company&#39;s near-term bottom-line growth. These might have also contributed to LMT&#39;s elevated leverage, as evident from its long-term debt-to-capital ratio, which came in quite higher than that of its peer group.
LMT&#39;s Long-Term Debt-to-Capital
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/51/81361.jpg?v=117165152" />
Image Source: Zacks Investment Research
<h2>Should You Buy LMT Stock Before Q3 Earnings Release?</h2>
Lockheed is less likely to disappoint with its third-quarter results, considering the recent upward revision in its earnings estimates, favorable Zacks Rank and a positive Earnings ESP. However, considering its premium valuation and elevated leverage, investors interested in this stock should wait until next Tuesday.
<a href="https://www.zacks.com/stock/news/2351614/should-lockheed-stock-be-in-your-portfolio-ahead-of-q3-earnings-report?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2351614">To read this article on Zacks.com click here.</a>

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Should Lockheed Stock Be in Your Portfolio Ahead of Q3 Earnings Report?

General Dynamics (GD) was awarded a ceiling $5.57B indefinite-delivery/indefinite-quantity contract for mission partner environment operations, mai...

General Dynamics awarded $5.57B Air Force contract

As military budgets rise and emerging technologies reshape defense strategies, the aerospace and defense industry presents exciting investment opportunities. With trends like cybersecurity, AI-driven autonomous systems, and space exploration gaining momentum, stocks like RTX Corporation (RTX), Lockheed Martin (LMT), and General Dynamics (GD) are positioned to benefit. Read further... As global military budgets expand due to rising security demands and advancements in technology, top defense stocks RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>), Lockheed Martin (<a href="https://stocknews.com/stock/LMT/">LMT</a>), and General Dynamics (<a href="https://stocknews.com/stock/GD/">GD</a>) stand out as beneficiaries of this growth. These companies are well-positioned to capitalize on the sector's upward momentum, making them compelling picks for investors seeking exposure to defense industry gains.
In 2023, the global aerospace and defense industry achieved a record-high revenue of <a href="https://www.statista.com/statistics/1471842/global-leading-aerospace-and-defense-industry-revenue/#:~:text=visit%20our%20website.-,Business%20Solutions,2019%20to%202023">$829 billion</a>, an 11% increase from the previous year, signaling a robust growth trajectory. The United States remains the dominant force in military spending, dedicating <a href="https://www.statista.com/statistics/262742/countries-with-the-highest-military-spending/">$916 billion</a> to defense, more than 40% of global military expenditure.
Cybersecurity and cyber warfare, AI-driven autonomous systems, the growing space domain, advanced manufacturing, and electromagnetic spectrum warfare are pivotal forces reshaping the future of defense. These advancements are driving demand for next-generation solutions and creating substantial investment opportunities for companies leading these technological transformations. As a result, the aerospace and defense industry is experiencing strong growth, with the market projected to reach <a href="https://www.thebusinessresearchcompany.com/report/defense-global-market-report">$616.32 billion in 2024</a>.
Considering these conducive trends, let's examine the <a href="https://stocknews.com/category/air-defense/">Air/Defense Services</a> stocks in detail.
#Stock 3: General Dynamics Corporation (<a href="https://stocknews.com/stock/GD/">GD</a>)
GD is a global aerospace and defense company with four segments: Aerospace (business jets and maintenance), Marine Systems (naval shipbuilding and support), Combat Systems (land combat vehicles and munitions), and Technologies (IT and mission support for military and federal clients).
On September 13, 2024, GD NASSCO announced a U.S. Navy contract to build up to eight more John Lewis-class oilers, starting with a $780 million award for the tenth ship. The full contract could exceed $6.7 billion.
It pays an annual dividend of $5.68, which translates to a dividend yield of 1.8% at the prevailing price levels.
During the fiscal third quarter that ended September 29, 2024, GD's revenue increased 10.4% year-over-year to $11.67 billion. Its operating earnings grew 11.7% from the year-ago value to $1.18 billion. In addition, the company's net earnings and EPS came in at $0.93 billion and $3.35, up 11.2% and 10.2% over the prior-year quarter, respectively.
Analysts expect GD's EPS and revenue for the quarter ending December 31, 2024, to increase 22% and 15.6% year-over-year to $4.44 and $13.49 billion, respectively. It surpassed the Street revenue estimates in three of the trailing four quarters, which is impressive.
Over the past year, the stock has gained 26.5% to close the last trading session at $312.05. It soared 20.2% year-to-date.
GD's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
GD has a B grade in Momentum and Stability. It is ranked #18 out of 72 stocks in the <a href="https://stocknews.com/category/air-defense/">Air/Defense Services</a> industry.
Beyond what we have stated above, we have also given GD grades for Growth, Value, Sentiment, and Quality. Get all the GD's ratings <a href="https://stocknews.com/stock/GD/ratings/">here</a>.
#Stock 2: RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>)
RTX provides aerospace and defense systems for commercial airlines, military, and government clients, specializing in aircraft engines, defense solutions, and aerospace products through its Collins Aerospace, Pratt &amp; Whitney, and Raytheon segments.
On November 12, 2024, Collins Aerospace, an RTX business, received a $19 million U.S. Department of Defense contract to equip UK Chinooks with a common avionics system, enhancing interoperability with U.S. forces and enabling seamless collaboration, reducing crew workload, and improving safety in joint operations.
On November 7, Pratt &amp; Whitney, an RTX business, and Air New Zealand began a $150 million expansion of the Christchurch Engine Centre to boost MRO capabilities for the GTF engine, targeting up to 140 overhauls annually by 2032.
It pays an annual dividend of $2.52, which translates to a dividend yield of 2% at the prevailing price levels.
In the fiscal third quarter ended September 30, 2024, RTX's sales increased 49.2% year-over-year to $20.09 billion. Moreover, adjusted net income attributable to common shareholders and adjusted EPS stood at $1.95 billion and $1.45, respectively, representing increases of 6.9% and 16% over the prior-year quarter.
Street expects RTX's revenue and EPS for the quarter ending December 31, 2024, to increase 3.4% and 6.7% year-over-year to $20.60 billion and $1.38, respectively. It surpassed the consensus EPS and revenue estimates of the trailing four quarters.
The stock climbed 46.6% year-to-date and has returned 50.4% over the past year to close the last trading session at $123.37.
RTX's POWR Ratings reflect strong prospects. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
It has a B for Growth, Momentum, and Sentiment. It is ranked #6 in the same industry.
To access RTX's Value, Stability, and Quality ratings, click <a href="https://stocknews.com/stock/RTX/ratings/">here</a>.
#Stock 1: Lockheed Martin Corporation (<a href="https://stocknews.com/stock/LMT/">LMT</a>)
LMT is a global leader in aerospace and defense, offering advanced aircraft, missile defense systems, combat solutions, and space technologies primarily to the U.S. government and allied militaries.
On November 7, 2024, LMT, in partnership with the U.S. Navy and General Atomics, conducted the first live control flight demonstration of an uncrewed system using the Unmanned Carrier Aviation Mission Control Station (UMCS).
It pays an annual dividend of $13.20, which translates to a dividend yield of 2.3% at the prevailing price levels.
During the fiscal third quarter that ended September 29, 2024, LMT's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 1.3% year-over-year to $17.10 billion. Its operating income grew 4.8% from the year-ago value to $2.14 billion. In addition, the company's net earnings came in at $1.62 billion, and EPS amounted to $6.80, up 1% over the prior-year quarter.
Street expects LMT's revenue for the fiscal year ending December to increase 5.4% year-over-year to $71.24 billion. Its EPS for the same year is likely to be $26.69. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters.
Shares of LMT have gained 27.2% over the past year and 24.9% year-to-date to close the last trading session at $565.96.
LMT's bright prospects are apparent in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Momentum, Stability, and Quality. Within the same industry, it is ranked #4.
Click <a href="https://stocknews.com/stock/LMT/ratings/">here</a> to see LMT's ratings for Growth, Value, and Sentiment.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
RTX shares fell $0.01 (-0.01%) in premarket trading Wednesday. Year-to-date, RTX has gained 49.27%, versus a 26.77% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/rtx-lmt-gd-3-defense-stocks-benefiting-from-increased-military-budgets/>3 Defense Stocks Benefiting from Increased Military Budgets</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Defense Stocks Benefiting from Increased Military Budgets

As military budgets rise and emerging technologies reshape defense strategies, the aerospace and defense industry presents exciting investment opportunities. With trends like cybersecurity, AI-driven autonomous systems, and space exploration gaining momentum, stocks like RTX Corporation (RTX), Lockheed Martin (LMT), and General Dynamics (GD) are positioned to benefit. Read further... As global military budgets expand due to rising security demands and advancements in technology, top defense stocks RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>), Lockheed Martin (<a href="https://stocknews.com/stock/LMT/">LMT</a>), and General Dynamics (<a href="https://stocknews.com/stock/GD/">GD</a>) stand out as beneficiaries of this growth. These companies are well-positioned to capitalize on the sector's upward momentum, making them compelling picks for investors seeking exposure to defense industry gains.
In 2023, the global aerospace and defense industry achieved a record-high revenue of <a href="https://www.statista.com/statistics/1471842/global-leading-aerospace-and-defense-industry-revenue/#:~:text=visit%20our%20website.-,Business%20Solutions,2019%20to%202023">$829 billion</a>, an 11% increase from the previous year, signaling a robust growth trajectory. The United States remains the dominant force in military spending, dedicating <a href="https://www.statista.com/statistics/262742/countries-with-the-highest-military-spending/">$916 billion</a> to defense, more than 40% of global military expenditure.
Cybersecurity and cyber warfare, AI-driven autonomous systems, the growing space domain, advanced manufacturing, and electromagnetic spectrum warfare are pivotal forces reshaping the future of defense. These advancements are driving demand for next-generation solutions and creating substantial investment opportunities for companies leading these technological transformations. As a result, the aerospace and defense industry is experiencing strong growth, with the market projected to reach <a href="https://www.thebusinessresearchcompany.com/report/defense-global-market-report">$616.32 billion in 2024</a>.
Considering these conducive trends, let's examine the <a href="https://stocknews.com/category/air-defense/">Air/Defense Services</a> stocks in detail.
Stock #3: General Dynamics Corporation (<a href="https://stocknews.com/stock/GD/">GD</a>)
GD is a global aerospace and defense company with four segments: Aerospace (business jets and maintenance), Marine Systems (naval shipbuilding and support), Combat Systems (land combat vehicles and munitions), and Technologies (IT and mission support for military and federal clients).
On September 13, 2024, GD NASSCO announced a U.S. Navy contract to build up to eight more John Lewis-class oilers, starting with a $780 million award for the tenth ship. The full contract could exceed $6.7 billion.
It pays an annual dividend of $5.68, which translates to a dividend yield of 1.8% at the prevailing price levels.
During the fiscal third quarter that ended September 29, 2024, GD's revenue increased 10.4% year-over-year to $11.67 billion. Its operating earnings grew 11.7% from the year-ago value to $1.18 billion. In addition, the company's net earnings and EPS came in at $0.93 billion and $3.35, up 11.2% and 10.2% over the prior-year quarter, respectively.
Analysts expect GD's EPS and revenue for the quarter ending December 31, 2024, to increase 22% and 15.6% year-over-year to $4.44 and $13.49 billion, respectively. It surpassed the Street revenue estimates in three of the trailing four quarters, which is impressive.
Over the past year, the stock has gained 26.5% to close the last trading session at $312.05. It soared 20.2% year-to-date.
GD's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
GD has a B grade in Momentum and Stability. It is ranked #18 out of 72 stocks in the <a href="https://stocknews.com/category/air-defense/">Air/Defense Services</a> industry.
Beyond what we have stated above, we have also given GD grades for Growth, Value, Sentiment, and Quality. Get all the GD's ratings <a href="https://stocknews.com/stock/GD/ratings/">here</a>.
Stock #2: RTX Corporation (<a href="https://stocknews.com/stock/RTX/">RTX</a>)
RTX provides aerospace and defense systems for commercial airlines, military, and government clients, specializing in aircraft engines, defense solutions, and aerospace products through its Collins Aerospace, Pratt &amp; Whitney, and Raytheon segments.
On November 12, 2024, Collins Aerospace, an RTX business, received a $19 million U.S. Department of Defense contract to equip UK Chinooks with a common avionics system, enhancing interoperability with U.S. forces and enabling seamless collaboration, reducing crew workload, and improving safety in joint operations.
On November 7, Pratt &amp; Whitney, an RTX business, and Air New Zealand began a $150 million expansion of the Christchurch Engine Centre to boost MRO capabilities for the GTF engine, targeting up to 140 overhauls annually by 2032.
It pays an annual dividend of $2.52, which translates to a dividend yield of 2% at the prevailing price levels.
In the fiscal third quarter ended September 30, 2024, RTX's sales increased 49.2% year-over-year to $20.09 billion. Moreover, adjusted net income attributable to common shareholders and adjusted EPS stood at $1.95 billion and $1.45, respectively, representing increases of 6.9% and 16% over the prior-year quarter.
Street expects RTX's revenue and EPS for the quarter ending December 31, 2024, to increase 3.4% and 6.7% year-over-year to $20.60 billion and $1.38, respectively. It surpassed the consensus EPS and revenue estimates of the trailing four quarters.
The stock climbed 46.6% year-to-date and has returned 50.4% over the past year to close the last trading session at $123.37.
RTX's POWR Ratings reflect strong prospects. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
It has a B for Growth, Momentum, and Sentiment. It is ranked #6 in the same industry.
To access RTX's Value, Stability, and Quality ratings, click <a href="https://stocknews.com/stock/RTX/ratings/">here</a>.
Stock #1: Lockheed Martin Corporation (<a href="https://stocknews.com/stock/LMT/">LMT</a>)
LMT is a global leader in aerospace and defense, offering advanced aircraft, missile defense systems, combat solutions, and space technologies primarily to the U.S. government and allied militaries.
On November 7, 2024, LMT, in partnership with the U.S. Navy and General Atomics, conducted the first live control flight demonstration of an uncrewed system using the Unmanned Carrier Aviation Mission Control Station (UMCS).
It pays an annual dividend of $13.20, which translates to a dividend yield of 2.3% at the prevailing price levels.
During the fiscal third quarter that ended September 29, 2024, LMT's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 1.3% year-over-year to $17.10 billion. Its operating income grew 4.8% from the year-ago value to $2.14 billion. In addition, the company's net earnings came in at $1.62 billion, and EPS amounted to $6.80, up 1% over the prior-year quarter.
Street expects LMT's revenue for the fiscal year ending December to increase 5.4% year-over-year to $71.24 billion. Its EPS for the same year is likely to be $26.69. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters.
Shares of LMT have gained 27.2% over the past year and 24.9% year-to-date to close the last trading session at $565.96.
LMT's bright prospects are apparent in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Momentum, Stability, and Quality. Within the same industry, it is ranked #4.
Click <a href="https://stocknews.com/stock/LMT/ratings/">here</a> to see LMT's ratings for Growth, Value, and Sentiment.
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RTX shares fell $0.01 (-0.01%) in premarket trading Wednesday. Year-to-date, RTX has gained 49.27%, versus a 26.77% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/rtx-lmt-gd-3-defense-stocks-benefiting-from-increased-military-budgets/>3 Defense Stocks Benefiting from Increased Military Budgets</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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