最新ニュース General Dynamics (NYSE:GD) 株価情報

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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GOLDAS KUYUMCULUK S/ADR by Goldas Kuyumculuk Sanayi Ithalat Ihracat A.S.

GOODBODY HEALTH LTD by Goodbody Health Ltd.

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WisdomTree Trust WisdomTree Efficient Gold Plus Equity Strategy Fund

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GDI INTGRTED FCILTY SVCS by GDI Integrated Facility Services, Inc.

GDI Integrated Facility Services Inc

GOLD DIGGER RES INC by Gold Digger Resources Inc.

Gold Digger Resources Inc

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GDL Fund

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ENERGY TRANSITION MINERAL by ENERGY TRANSITION MINERALS LTD.

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The GDL Fund Series C Cumulative Puttable and Callable Preferred Shares

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Green Mining Innovation Inc

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Green Dot Corp

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GOLDEN RES DEV INTL by Golden Resource Development International

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GLOBAL DIGITAL SLTNS INC by Global Digital Solutions, Inc.

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GLADIATOR METALS CORP by Gladiator Metals Corp.

Gladiator Metals Corp

Gabelli Dividend & Income Trust Common Shares of Beneficial Interest

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Principal Exchange-Traded Funds Principal Active Global Divid Income ETF

GLOBAL DEV&ENVIR RES INC by Global Development & Environmental Resources, Inc.

Global Development & Environmental Resources Inc

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VeeMost Technologies Holdings Inc

Gould Investors LP

The Gabelli Dividend & Income Trust 5.375% Series H Cumulative Preferred Shares

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VanEck Gold Miners ETF

MicroSectors Gold Miners -3X Inverse Leveraged ETNs

VanEck Junior Gold Miners ETF

GOLDEX RES CORP by Goldex Resources Corp.

Goldex Resources Corp

MicroSectors Gold Miners 3X Leveraged ETN

Tidal Trust II YieldMax Gold Miners Option Income Strategy ETF

Renu Energy Ltd

Grid Dynamics Holdings, Inc. - Class A Common Stock

Grid Dynamics Holdings Inc

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Baird analyst Peter Arment downgraded the rating for General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Outperform to Neutral and lowered the price target from $345 to $283. General Dynamics shares closed at $263.67 on Monday. <a href="https://www.benzinga.com/quote/GD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James analyst Adam Tindle downgraded the rating for Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Outperform to Market Perform. Fortinet shares closed at $93.83 on Monday. <a href="https://www.benzinga.com/quote/FTNT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley analyst Stephen Grambling downgraded Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) from Overweight to Equal-Weight and cut the price target from $54 to $51. Las Vegas Sands shares closed at $46.87 on Monday. <a href="https://www.benzinga.com/quote/LVS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Jeff Cantwell downgraded the rating for Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) from Buy to Neutral. Mastercard shares closed at $504.91 on Monday. <a href="https://www.benzinga.com/quote/MA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Salvator Tiano downgraded Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) from Neutral to Underperform and slashed the price target from $63 to $54. Archer-Daniels Midland er shares closed at $52.12 on Monday. <a href="https://www.benzinga.com/quote/ADM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying MA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="580" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-1024x580.png" alt="" class="wp-image-732521" style="width:551px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-1024x580.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-768x435.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89.png 1122w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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This Mastercard Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

Baird analyst Peter Arment downgrades General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Outperform to Neutral and lowers the price target from $345 to $283.

Price Target

Baird Downgrades General Dynamics to Neutral, Lowers Price Target to $283

President-elect Donald Trump's cabinet picks are set to begin the confirmation process with several appearing before Senate committees this week. Former Fox News host Pete Hegseth and former Georgia Congressman Doug Collins <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936887/trumps-treasury-pick-scott-bessent-reveals-up-to-500000-bitcoin-stake-via-blackrocks-etf">are up first on Tuesday.</a>
Hegseth: Hegseth, an Iraq and Afghanistan War veteran <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street">who has not</a> held a government position, is Trump's pick for Defense Secretary and will face questions from the Senate Armed Forces Committee on Tuesday. 
Critics have blasted Hegseth for his lack of leadership experience and past allegations of financial mismanagement and sexual misconduct. However, Senate Majority Leader John Thune has told Trump that he thinks Hegseth will have the votes to be confirmed as Secretary of Defense, according to three sources <a href="https://www.cbsnews.com/news/pete-hegseth-votes-confirmation-defense-secretary-john-thune-donald-trump/">as reported </a>by CBS News.&nbsp;&nbsp;
Read Next: <a href="https://www.benzinga.com/25/01/42919029/supreme-court-hears-tiktok-oral-arguments">Supreme Court Hears TikTok Arguments With App&#8217;s Ban Ahead: &#8216;Essentially, The Platform Shuts Down&#8217;&nbsp;</a>
Collins: Collins, who served in Congress from 2013 to 2021 and is an Air Force Reserve chaplain and Iraq War veteran, is set to appear before the Senate Veterans' Affairs Committee on Tuesday for consideration as the next Veterans Affairs Secretary.&nbsp;
Collins is widely anticipated to receive Senate confirmation due to the combination of his military and political experience.&nbsp;
Why It Matters: Both of Trump's picks appearing before the Senate on Tuesday would have implications for the military if confirmed and therefore, aerospace and defense stocks should be watched.&nbsp;The iShares US Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) rose following Trump's election win but has since retreated from all-time highs reached in November.&nbsp;
Defense contractors, including 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>), also spiked around the election and could move again as the Senate confirmation process begins. 
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iShares Dow Jones US Aerospace & Defense Index Fund

Trump Cabinet Confirmation Hearings Begin Tuesday: Pete Hegseth, Doug Collins Up First

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The major indices experienced consecutive weekly losses, with the S&amp;P 500 falling 1.9%, the Nasdaq Composite dropping 2.3%, and the Dow sliding nearly 1.9% this week.
Wall Street&#8217;s post-election rally was erased amid rising concerns over interest rates, fueled by a strong labor market, soaring inflation expectations, and escalating geopolitical tensions as President-elect Donald Trump nears a return <a href="https://www.benzinga.com/news/25/01/42916780/donald-trump-receives-unconditional-discharge-in-new-york-hush-money-case-will-enter-white-house-as-convicted-felon">to the White House. </a>
December&#8217;s nonfarm payrolls surged to 256,000, far surpassing estimates, intensifying pressure on the Federal Reserve to curb inflation. Meanwhile, new sanctions targeting Russian oil companies and a spike in oil prices added <a href="https://www.benzinga.com/25/01/42928629/us-labor-market-smashes-expectations-wall-street-erases-post-election-rally-as-interest-rateanxiety-grows-this-week-in-the-markets">further market instability.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/25/01/42830046/amd-reveals-new-ai-processors-gaming-products-ahead-of-ces-2025-shares-rise">AMD Reveals New AI Processors, Gaming Products Ahead Of CES 2025, Shares Rise</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) unveiling the Ryzen AI Max series processors and enterprise-focused Ryzen PRO chips, showcasing AI-powered performance innovations for PCs, laptops, and gaming devices, sparking investor optimism.
&#8220;<a href="https://www.benzinga.com/25/01/42825654/rivians-strong-deliveries-r2-line-plans-and-vw-jv-expansion-drive-analyst-optimism">Rivian&#8217;s Strong Deliveries, R2 Line Plans And VW JV Expansion Drive Analyst Optimism</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, highlights Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) achieving 51,579 EV deliveries in 2024, surpassing analyst expectations, with plans for its 2026 R2 line and expanded joint ventures with Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) driving a positive outlook despite EV tax credit concerns.
&#8220;<a href="https://www.benzinga.com/25/01/42856421/from-earth-to-the-moon-intuitive-machines-and-nokia-launch-4glte-network">From Earth To The Moon: Intuitive Machines And Nokia Launch 4G/LTE Network</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/lekha-gupta">Lekha Gupta</a>, details the integration of Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) and Nokia Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) technologies to deploy the first 4G/LTE lunar network during the IM-2 mission, enabling high-definition video and telemetry transmission via the Athena lander.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/general/sports/25/01/42882919/netflix-q4-to-show-advertising-live-sports-strength-analyst-says-multiyear-narrative-of-compounded-growth">Netflix Q4 To Show Advertising, Live Sports Strength, Analyst Says: &#8216;Multiyear Narrative Of Compounded Growth&#8217;</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42919268/nike-analyst-turns-bullish-visible-recovery-story-in-2025">Nike Analyst Turns Bullish: &#8216;Visible Recovery Story&#8217; In 2025</a>
<a href="https://www.benzinga.com/government/regulations/25/01/42843001/taiwan-semiconductor-ramps-up-production-in-japan-us-and-germany-to-diversify-away-from-china">Taiwan Semiconductor Ramps Up Production in Japan, US, and Germany to Diversify Away from China</a>
The Bears
&#8220;<a href="https://www.benzinga.com/tech/25/01/42879725/nvidia-ceo-sends-quantum-stocks-lower-poll-finds-over-50-pick-rigetti-or-skip-for-2025">Nvidia CEO Sends Quantum Stocks Lower: Poll Finds Over 50% Pick Rigetti Or Skip For 2025</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports on Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang's cautionary remarks about quantum computing&#8217;s practical timeline impacting stocks like Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>), Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>), and D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), with Benzinga readers favoring Rigetti for 2025 despite steep declines.
&#8220;<a href="https://www.benzinga.com/25/01/42866225/notable-crypto-analyst-foresees-potential-dip-in-dogecoin-price">Dogecoin To Drop Further? Top Analyst Foresees Possible Dump For Memecoin If Bitcoin Doesn&#8217;t Bounce</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights analysts' concerns about Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), with one linking its potential decline to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) failing to recover, while another foresees a drop to $0.30 amid ongoing crypto market weakness.
&#8220;<a href="https://www.benzinga.com/25/01/42768507/china-slaps-export-restrictions-on-dozens-of-us-companies-boeing-lockheed-martin-general-dynamics-raytheon-affected">China&#8217;s Export Crackdown Hits Boeing, Lockheed Martin, And More</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, highlights China&#8217;s export ban on dual-use items to 28 U.S. companies, including Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), as part of escalating trade tensions and retaliation for U.S. arms sales to Taiwan.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/25/01/42821300/biden-set-to-ban-future-offshore-oil-drilling-4-stocks-to-watch">Biden Set To Ban Future Offshore Oil Drilling: 4 Stocks, 2 ETFs To Watch</a>
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42888800/goldman-sachs-flags-market-correction-risk-as-inflation-trump-policies-stir-uncertainty">Goldman Sachs Flags Market Correction Risk As Inflation, Trump Policies Stir Uncertainty</a>
<a href="https://www.benzinga.com/news/global/25/01/42825094/us-steel-nippon-steel-sue-biden-administration-cleveland-cliffs-union-in-response-to-blocked-merger">US Steel, Nippon Steel Sue Biden Administration, Cleveland-Cliffs, Union In Response To Blocked Merger</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Rivian, Intuitive Machines, Rigetti Computing — And Dogecoin Analyst Foresees Drop To 30 Cents

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 lowers the price target from $295 to $279.

Wells Fargo Maintains Equal-Weight on General Dynamics, Lowers Price Target to $279

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 lowers the price target from $330 to $315.

Susquehanna Maintains Positive on General Dynamics, Lowers Price Target to $315

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 lowers the price target from $330 to $305.

Barclays Maintains Overweight on General Dynamics, Lowers Price Target to $305

General Dynamics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) short percent of float has risen 5.93% since its last report. The company recently reported that it has 3.50 million shares sold short, which is 1.43% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>General Dynamics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1736183721_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for General Dynamics has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing General Dynamics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, General Dynamics's peer group average for short interest as a percentage of float is 3.67%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into General Dynamics's Recent Short Interest

The launch of the U.S. Global Technology and Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAR#NYSE">WAR</a>) on Dec. 30, 2024, and its subsequent debut on the New York Stock Exchange, is another feather in the cap for U.S. Global Investors Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROW#NASDAQ">GROW</a>) extensive suite of ETFs targeting specific sectors. The fund aims to bring investors into the areas of advanced technology, defense and aerospace with an expense ratio of 0.6%.
The ETF holds total net assets of $1 million, per the company&#8217;s fact sheet, and rebalances quarterly. Holdings are split, with the following 10 holdings equally representing seven percent each of the fund: Applied Materials (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), Booz Allen Hamilton Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>), General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Hexcel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>), Leidos Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>), and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Other notable holdings include Rheinmetall AG, Cohort plc, Cognyte Software and F5, each constituting 4% of the portfolio.
A general breakdown of the ETF holdings looks like this: data centers, homeland protection, aerospace and defense, cybersecurity, and semiconductor. All these sectors are interconnected in today&#8217;s global economy.
Interestingly, <a href="https://www.usglobaletfs.com/app/uploads/2024/12/WAR-Factsheet.pdf">28%</a> of the ETF's technology sector exposure will consist of semiconductor stocks. This is important as the chip industry has been in the spotlight for a while now for its lucrative outlook. According to a recent <a href="https://www.pwc.com/gx/en/industries/technology/state-of-the-semicon-industry.html">PwC report</a>, global semiconductor revenues are anticipated to grow "more than twice as fast as global GDP, reaching over $1 trillion by 2030." Thus, a larger exposure in this area makes sense.
Also, another 28% of the fund's overall holdings will go to Cybersecurity, an area that needs intense R&amp;D and consistent advancements to tackle the growing sophistication of global cybercrimes, including cyberespionage, a major headache for governments.
The stocks included in this actively managed fund will be chosen subject to some quantitative and fundamental parameters. Also, there is a possibility for the fund to invest in foreign companies and emerging markets. The fund prospectus currently states that its exposure to companies in the U.S. is 83%, U.K. is 7%, Germany is 7%, France 3% and Norway 3%.
The ETF issuer has a note of warning to investors in its press release: "The fund's concentration in the securities of a particular industry namely Aerospace and Defense, Cybersecurity and Semi-conductor industries as well as geographic concentration may cause it to be more susceptible to greater fluctuations in share price and volatility due to adverse events that affect the Fund's investments."
Nonetheless, the defense industry presents a significant investment opportunity due to various global factors. 
Russia&#8217;s invasion of Ukraine, tensions with China and heightened military spending especially in Europe due to the almost doubling of arms imports between 2019 and 2023 will require high levels of defense spending. 
Advanced technologies in warfare are transforming war; countries are heavily investing in AI, hypersonic missiles, and autonomous weapons, with the example being China. 
As detailed by U.S. Global ETFs, cyber threats are also rising, with a 75% increase in global cyberattacks and leading to high investments in cyber security infrastructure. Bipartisan U.S. defense spending and increases in NATO military spending add weight to the potential growth of this sector. Another reason for European defense system modernization and the reduction of U.S. reliance on their systems is to grow more independent.
Read Next: • <a href="https://www.benzinga.com/content/42720025/these-3-quirky-etfs-may-be-strong-plays-in-2025">These 3 Quirky ETFs May Be Strong Plays in 2025</a>
Photo: Courtesy General Dynamics

Specialty ETFs

New ETFs

Global

Tech

AMAT

GROW

LDOS

U.S. Global Launches Technology And Aerospace & Defense ETF: Why Its Allocation Makes Sense

China's Ministry of Commerce implemented new trade controls on Thursday targeting U.S. defense contractors and technologies, citing<a href="https://www.benzinga.com/news/global/24/12/42643821/biden-administration-initiates-trade-probe-on-chinese-legacy-chips"> national security concerns. </a>&nbsp;
The Details: In an escalation of ongoing trade tensions between the U.S. and China, China&#8217;s Ministry of Commerce added 28 U.S. companies to an export control list and banned the export of dual-use items with both military and civilian applications to those companies.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/global/24/12/42743937/natural-gas-prices-spike-as-bone-chilling-arctic-blast-approaches">Natural Gas Prices Spike As &#8216;Bone-Chilling&#8217; Arctic Blast Approaches</a>
China also added 10 companies to its Unreliable Entity List for participating in arms sales to Taiwan. Those companies are prohibited from doing any business in China and their executives may not enter or live in the country. Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) are among the companies affected.&nbsp;
Andrew Gilholm, a China expert at the consulting firm Control Risks,<a href="https://www.nytimes.com/2025/01/02/business/china-us-companies-entity-list.html"> told the </a>New York Times that China has taken similar actions on these companies before.&nbsp;
"Most of this is probably at the symbolic level because so many of these entities were already subject to sanctions," Gilholm said.&nbsp;
"What we're seeing is the widening scope and number of entities being added in a single listing," he added.&nbsp;
Why It Matters: The move is seen as retaliation to recent U.S. measures including the Biden administration&#8217;s restrictions on exports of advanced memory chips and chipmaking machinery to 140 Chinese companies and the addition of Chinese firms to the U.S. Department of Commerce&#8217;s Entity List.&nbsp;
China's new trade controls come just weeks before President-elect Donald Trump enters the White House. Trump<a href="https://www.benzinga.com/tech/24/12/42527567/pdds-temu-tops-ios-downloads-in-us-while-trump-wants-to-impose-100-tariffs-on-chinese-imports"> has pledged</a> to raise tariffs on China-made goods and could use those tariffs to push for a new trade deal with China.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">Bill Ackman Sends Fannie Mae, Freddie Mac Stocks Soaring: &#8216;Trump Likes Big Deals&#8217;</a>&nbsp;</li>
</ul>
Image: Shutterstock

Asia

Movers

China's Export Crackdown Hits Boeing, Lockheed Martin And More

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 $303 to $295.

Deutsche Bank Maintains Hold on General Dynamics, Lowers Price Target to $295

Defense stocks experienced a notable surge during&nbsp;Donald Trump&#8217;s&nbsp;first term as President of the United States, with several key players in the industry seeing significant gains. This trend is highlighted by the performance of major companies such as&nbsp;Lockheed Martin Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>),&nbsp;Boeing Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>),&nbsp;L3Harris Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), and&nbsp;General Dynamics Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>).
What Happened: Between Jan. 20, 2017, and Jan. 20, 2021, during Trump&#8217;s initial term, defense stocks saw significant gains, according to&nbsp;<a href="https://pro.benzinga.com/">Benzinga Pro</a>.&nbsp;Lockheed Martin rose by 32.57%, while&nbsp;Boeing increased by 32.55%.&nbsp;L3Harris Technologies experienced a remarkable 88.02% rise, and&nbsp;General Dynamics grew by 13.60%.
What&#8217;s Ahead For These Stocks?
Lockheed Martin&nbsp;has a <a href="https://www.benzinga.com/quote/LMT/analyst-ratings">consensus price target</a>&nbsp;of $548.62 from 22 analysts, with a high of $700 from Citigroup and a low of $332 from Goldman Sachs. Recent ratings from&nbsp;Wells Fargo, Barclays, and RBC&nbsp;Capital suggest a 21.16% upside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015110/Screenshot-2024-12-31-at-12.20.54%E2%80%AFPM-1024x665.png" alt="" class="wp-image-712725" /></figure>
Boeing, which has been facing increasing scrutiny due to <a href="https://www.benzinga.com/markets/equities/24/12/42718607/boeing-shares-fall-over-4-in-monday-premarket-as-airplane-maker-faces-scrutiny-after-deadliest-737-800-crash-in-south-korea">multiple flight mishaps</a> and two deadly disasters in the past year,&nbsp;has <a href="https://www.benzinga.com/quote/BA/analyst-ratings">a consensus target</a> of $197.85 from 23 analysts, with Wolfe Research setting the high at $260 and Wells Fargo the low at $85. Recent ratings imply a 9.32% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015453/Screenshot-2024-12-31-at-12.24.36%E2%80%AFPM-1024x665.png" alt="" class="wp-image-712735" /></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/12/42696771/rigetti-computing-gamestop-palladyne-ai-phunware-and-tesla-why-these-5-stocks-are-on-investors-radars-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">RGTI, GME, PDYN, PHUN, NFLX: Top 5 Trending Stocks Today</a>
L3Harris Technologies&nbsp;has <a href="https://www.benzinga.com/quote/LHX/analyst-ratings">a consensus target</a> of $259.67 from 22 analysts, with Argus Research&#8217;s high at $300 and Bernstein&#8217;s low at $210. Recent ratings indicate a 39.23% upside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015628/Screenshot-2024-12-31-at-12.26.13%E2%80%AFPM-1024x665.png" alt="" class="wp-image-712736" /></figure>
General Dynamics&nbsp;has <a href="https://www.benzinga.com/quote/GD/analyst-ratings">a consensus target</a> of $305.47 from 24 analysts, with Citigroup&#8216;s high at $354 and Credit Suisse&#8216;s low at $220. Recent ratings suggest a 4.58% upside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015809/Screenshot-2024-12-31-at-12.28.00%E2%80%AFPM-1024x665.png" alt="" class="wp-image-712739" /></figure>
Why It Matters: The defense sector&#8217;s performance during Trump&#8217;s first term was buoyed by increased government spending and favorable policies. However, recent developments indicate potential challenges ahead. According to a&nbsp;recent report, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42468190/defense-stocks-face-headwinds-as-trumps-doge-targets-spending-cuts-goldman-sachs-downgrades-general-dynamics-to-sell">U.S. defense sector</a> is bracing for turbulence in 2025, as Goldman Sachs downgraded General Dynamics, citing risks tied to a slowing Pentagon budget and margin pressures. The&nbsp;defense budget, which has more&nbsp;than doubled over the past&nbsp;decade, could see deceleration under Trump&#8217;s&nbsp;newly formed Department of Government&nbsp;Efficiency.
Furthermore,&nbsp;Morgan Stanley&nbsp;has highlighted that while the <a href="https://www.benzinga.com/markets/equities/24/12/42382786/morgan-stanley-narrows-down-winning-and-losing-bets-in-the-first-100-days-of-trump-administration">Republican party&#8217;s win</a> in the 2024 elections could pave the way for significant policy changes, concerns over trade tariffs, immigration policies, and fiscal sustainability may constrain the broader economic outlook. Investors are advised to remain cautious as these factors could impact the defense sector&#8217;s future performance.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42714042/analyst-says-this-single-factor-could-propel-bitcoin-and-crypto-to-new-heights-in-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cryptocurrency Analyst Says This Single Factor Could Propel Bitcoin And Crypto To New Heights In 2025</a></li>
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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 Defense Visual Information Distribution Service.

General

With The DOGE Sword Hanging Over Defense Budget, Here's How Boeing, LMT And Others Performed During Trump's First Term

Company will implement innovative Mission&nbsp;Partner Environment to securely share information with global mission partners
FALLS CHURCH, Va., Dec. 20, 2024 /PRNewswire/ -- General Dynamics Information Technology (GDIT), a business unit of General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), announced today it was awarded a new $5.6 billion contract by the Air Force Mission Partner Capabilities Office. The single award, indefinite-delivery indefinite-quantity contract, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4329881-1&amp;h=2152613664&amp;u=https%3A%2F%2Fwww.defense.gov%2FNews%2FContracts%2FContract%2FArticle%2F3962730%2F&amp;a=awarded">awarded</a> in November, has a five-year base period and a five-year option.
Mission Partner Environments (MPEs) enable the military and its trusted partners to securely communicate, collaborate and share information at multiple levels of classification in real time so decision makers can rapidly adapt to changing mission dynamics.
Under the contract, GDIT will modernize, integrate, operate and sustain the Department of Defense's MPE. The company will provide a portfolio of services including mission, cyber and enterprise IT services and infrastructure. This contract will also advance interoperability – the ability to seamlessly connect multiple systems together – with U.S. government and non-government entities and international coalition partners in support of the National Defense Strategy.

Contracts

General Dynamics Information Technology Awarded A New 5-Year $5.6B Contract By The Air Force Mission Partner Capabilities Office To Implement Innovative Mission Partner Environment To Securely Share Information With Global Mission Partners

RBC Capital analyst Ken Herbert downgrades General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Outperform to Sector Perform and lowers the price target from $330 to $290.

RBC Capital Downgrades General Dynamics to Sector Perform, Lowers Price Target to $290

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Dow dropped 1.8% this week, while the S&amp;P 500 fell 0.6%, ending a three-week winning streak. Meanwhile, the Nasdaq gained 0.3%, continuing its climb, driven by optimism in tech and artificial intelligence. 
The Nasdaq 100, boosted by the Magnificent Seven, reached record highs, approaching the 22,000 mark and logging a 30% year-to-date gain. Five of the group's stocks, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), hit new highs, with their combined market value <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42492966/ai-driven-rally-pushes-tech-stocks-to-records-broadcom-enters-trillion-dollar-club-inflation-data-flashes-warning-signal-this-week-in-the-markets">surpassing $18 trillion.</a>
Inflationary pressures also persisted in November, with the Consumer Price Index rising 2.7% year-over-year, marking the second consecutive annual increase and presenting challenges for the Federal Reserve's 2% target. Shelter costs, which rose 0.3%, accounted for 40% of the monthly CPI gain, underscoring the sticky nature of inflation despite <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">earlier signs of disinflation.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42449593/tesla-stock-is-analysts-top-2025-sector-pick-elon-musks-political-involvement-will-accelerate-teslas-journey-beyond-autos">Tesla Is Analyst&#8217;s Top 2025 Stock Pick: Elon Musk Political Involvement May &#8216;Accelerate&#8217; EV Maker Beyond Autos</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as an analyst&#8217;s top automotive pick for 2025, citing Elon Musk's political influence as a catalyst for Tesla&#8217;s expansion into AI, robotics, and renewable energy beyond its core automotive business.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, shares a crypto analyst&#8217;s bullish prediction for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), targeting $3 with a potential high of $18 in a &#8220;wild&#8221; scenario, while using dips between $0.40 and $0.30 to increase holdings early in the bull cycle.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433049/microstrategy-nasdaq-100-inclusion-on-the-horizon-could-spell-59-upside-says-bernstein">MicroStrategy: Nasdaq 100 Inclusion On The Horizon Could Spell 59% Upside, Says Bernstein</a>,&#8221; by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, highlights the significance of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) joining the Nasdaq 100. Bernstein projects the move could enhance visibility, drive $2.1 billion in ETF inflows, and support a $600 price target, underpinned by the company's Bitcoin-centric growth strategy.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42433831/bitcoin-to-200000-ethereum-to-7000-solana-to-750-in-2025-predicts-bitwise">Bitcoin To $200,000, Ethereum To $7,000, Solana To $750 In 2025, Predicts Bitwise</a>
<a href="https://www.benzinga.com/24/12/42453057/palantir-positioned-to-become-the-next-oracle-in-2025-says-dan-ives-messi-of-ai-set-for-breakout-year">Palantir Positioned To Become &#8216;The Next&#8217; Oracle In 2025, Says Dan Ives: &#8216;Messi Of AI&#8217; Set For Breakout Year</a>
<a href="https://www.benzinga.com/general/space/24/12/42412982/russell-2000-high-flyers-4-stocks-shaping-2024-with-quantum-ai-nuclear-space">Russell 2000 High Flyers: 4 Stocks Shaping 2024 With Quantum, AI, Nuclear, Space</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a>,&#8221; by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, discusses China&#8217;s investigation into NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for potential anti-competitive practices, with TF Securities&#8217; Ming-Chi Kuo predicting limited short-term financial impact but warning of escalating scrutiny, including possible future CUDA-related probes.
&#8220;<a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">Trump To Change Dollar Stores For Good? Dollar Tree Exec Says &#8216;Prepared To Act&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) and Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) bracing for cost pressures from proposed tariffs, with Dollar Tree's CEO stating the company is ready to adapt its pricing and supply strategies.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42468190/defense-stocks-face-headwinds-as-trumps-doge-targets-spending-cuts-goldman-sachs-downgrades-general-dynamics-to-sell">Defense Stocks Face Headwinds As Trump&#8217;s DOGE Targets Spending Cuts: Goldman Sachs Downgrades General Dynamics</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports Goldman Sachs&#8217; downgrade of General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) to Sell, citing risks from Donald Trump&#8216;s Department of Government Efficiency&#8217;s potential Pentagon budget cuts, while Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) remain under scrutiny for valuation concerns and slowing growth.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/24/12/42452944/larry-summers-cautions-on-trumps-tariffs-and-tax-cuts-markets-are-hair-trigger-sensitive-to-inflation">Larry Summers Warns Of Nixon-Era Risks In Trump&#8217;s Term: Policies Could Trigger &#8216;Significantly Larger&#8217; Inflation</a>
<a href="https://www.benzinga.com/media/24/12/42482813/intel-cfo-hints-at-possible-division-split-as-company-struggles-to-recapture-moat">Intel CFO Hints at Possible Division Split as Company Struggles To Recapture Moat</a>
<a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">Janet Yellen Warns Trump Tariffs Could &#8216;Undermine Confidence In Financial Markets&#8217; And Raise American Household Costs</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

AAPL

DLTR

MSTR

TSLA

Benzinga Bulls And Bears: Tesla, Nvidia, MicroStrategy, Dollar Tree, And Dogecoin Prediction Of $18 In 'Wild' Scenario

Jefferies analyst Sheila Kahyaoglu downgrades General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Buy to Hold and lowers the price target from $345 to $300.

Jefferies Downgrades General Dynamics to Hold, Lowers Price Target to $300

The U.S. defense sector is bracing for turbulence in 2025 as Goldman Sachs downgraded a key player in the industry and reiterated a bearish outlook on other defense stocks, citing risks tied to a slowing Pentagon <a href="https://www.benzinga.com/topic/donald-trump">budget and margin pressures.</a>
The defense budget, which has more than doubled over the past decade, could see deceleration — or even contraction — under the watch of Donald Trump's newly formed Department of Government Efficiency led by Elon Musk and Vivek Ramaswamy. 
"We remain cautious on defense stocks as we see decelerating and potentially negative growth in the forward U.S. Department of Defense budget," Goldman Sachs analyst Noah Poponak said in a note Thursday. 
Goldman downgraded General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Neutral to Sell, citing fundamental challenges across all four of its business segments.
<h1 class="wp-block-heading">Can The Defense Budget Escape DOGE Spending Cuts?</h1>
Goldman warned that defense spending may have peaked, creating "tough compares" for future growth. 
Historically, defense spending has moved in decade-long cycles, and the current high base of investment means the next phase could be one of contraction. 
Poponak also highlighted the incoming Trump administration appears eager to wind down U.S. involvement in foreign conflicts, further reducing the case for large-scale defense spending.
Poponak indicated the Pentagon's procurement efficiency as "imperfect," which could make defense spending an attractive target for cuts. Given that defense represents a significant chunk of the federal budget, trimming it may be unavoidable as DOGE seeks to deliver cost savings.
&#8220;If DOGE wants to substantially reduce total U.S. government spending, it is hard to avoid DoD,&#8221; Goldman Sachs wrote.
<h1 class="wp-block-heading">Structural Margin Pressures And Valuation Risks</h1>
Beyond the potential for lower top-line growth, defense contractors are grappling with long-term pressures on profitability. Over the past few years, the Pentagon has tightened contractual terms, effectively shifting cost risks to contractors.
"While the rate of decline may be slowing, we think margins are now structurally lower moving forward vs. the last decade," Poponak said.
DOGE could exacerbate this trend by advocating for more fixed-price contracts, even in the early stages of programs, a move that would further constrain profitability. 
Yet despite these challenges, defense stocks as a group continue to trade above their historical valuation averages. 
"Defense stocks trade above their historical average valuation level as a group, with some individual names at their high-end and a premium to the equity market," Poponak commented. 
<h1 class="wp-block-heading">Goldman Sachs Reiterates Sell Recommendations On Defense Contractors</h1>
According to Goldman Sachs, the General Dynamics downgrade reflects weaker-than-peer growth in its Technologies division, margin pressures in Marine shipbuilding, reduced supplemental funding at Combat, and delivery challenges at Gulfstream that are weighing on profitability.
"While General Dynamics trades at a discount to Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), valuation is at a level where it could derate if earnings power is disappointing the market," Poponak said.
Goldman Sachs also trimmed the 12-month price target on General Dynamics from $283 to $245. 
Lockheed Martin, often seen as the bellwether of the defense industry, also remains on the Sell list from Goldman Sachs. 
The analyst flagged risks related to the F-35 program, which has already been named as a potential target by DOGE leadership. 
"LMT currently has a large positive net pension benefit in its free cash flow, and we expect free cash to be near flat the next several years," Poponak said, adding that the company trades at 23 times estimated 2025 earnings, a steep premium for a stock facing margin and spending risks.
Northrop Grumman holds a similar Sell rating, with Goldman expressing concerns about slowing growth in its flagship B-21 bomber program. Poponak highlighted that NOC trades at 20 times the estimated 2025 earnings and warned of "incremental margin risk" ahead.
Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>) is also struggling under margin pressures. Its shipbuilding business, plagued by labor shortages and cost overruns, could see profitability erode further, according to the investment bank. 
The company's recent results revealed weaker recurring margins than previously assumed, with guidance pointing to near-term margins as low as 5%, far below historical levels.
Goldman also reaffirmed its Sell ratings on L3 Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) and Mercury Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>), citing slower growth, operational risks, and valuation concerns.
<h1 class="wp-block-heading">Market Reactions</h1>
Shares of General Dynamics fell 1.01% on Thursday, while the broader industry — as tracked by the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) – fell 0.64%.
Lockheed Martin fell 1.52%, hitting lows last seen on July 23, 2024.
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Defense Stocks Face Headwinds As Trump's DOGE Targets Spending Cuts: Goldman Sachs Downgrades General Dynamics

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Goldman Sachs analyst Noah Poponak downgraded the rating for General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Neutral to Sell and lowered the price target from $283 to $245. General Dynamics shares closed at $265.43 on Wednesday.<a href="https://www.benzinga.com/quote/GD/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Stephen Powers downgraded Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) from Buy to Hold and cut the price target from $78 to $67. Mondelez shares closed at $62.69 on Wednesday. <a href="https://www.benzinga.com/quote/MDLZ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Curt Woodworth downgraded Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) from Buy to Neutral and lowered the price target from $171 to $156. Nucor shares closed at $138.44 on Wednesday. See how other analysts view this stock.</li>
<li>Keybanc analyst Brandon Nispel downgraded the rating for T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) from Overweight to Sector Weight and maintained the price target of $252. T-Mobile US shares closed at $234.34 on Wednesday. <a href="https://www.benzinga.com/quote/TMUS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo analyst Chris Carey downgraded the rating for The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) from Equal-Weight to Underweight and slashed the price target from $175 to $160. Hershey shares closed at $177.00 on Wednesday. <a href="https://www.benzinga.com/quote/HSY/analyst-ratings">See how other analysts view this stock.</a></li>
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Considering buying HSY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="591" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12095131/image-104-1024x591.png" alt="" class="wp-image-689625" style="width:470px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12095131/image-104-1024x591.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12095131/image-104-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12095131/image-104-768x444.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12095131/image-104.png 1103w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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This Hershey Analyst Turns Bearish; Here Are Top 5 Downgrades For Thursday

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General Dynamics shares are trading lower after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $283 to $245.

Goldman Sachs analyst Noah Poponak downgrades General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Neutral to Sell and lowers the price target from $283 to $245.

Goldman Sachs Downgrades General Dynamics to Sell, Lowers Price Target to $245

Bernstein analyst Douglas Harned maintained a Hold rating on General Dynamics (GD – Research Report) yesterday and set a price target of $298.00. T...

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