オプションチェーンは、General Dynamicsの株式オプションの主要データを様々な行使価格と満期日で表示します。トレーダーはこの情報を使用して、潜在的な取引を分析し、General Dynamicsの市場センチメントを評価します。.

General Dynamics (NYSE:GD) 株価情報, オプションチェーン

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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GLOBAL DEFENSE & NATL SEC SYS INC COM

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GENERAL DYNAMICS ORD

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: 
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<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>
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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.
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News

New ETFs

Markets

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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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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41690154/shock-october-jobs-report-leaves-fed-in-tight-spot-experts-say-interest-rate-cuts-a">Shock October Jobs Report Leaves Fed In &#8216;Tight Spot:&#8217; Experts Say Interest Rate Cuts Ahead</a></li>
</ul>
Image: Shutterstock

Politics

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?

Defense and aerospace stocks, as tracked by the iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) have returned a remarkable 22% year-to-date in 2024; an aerospace expert weighed in on whether companies can keep up with sky-high valuations <a href="https://www.benzinga.com/markets/commodities/24/10/41150239/investors-look-to-gold-as-middle-east-tensions-rise-how-israel-iran-conflict-could-impact-pri">fueled by tensions</a> in the Middle East.
The Aerospace Analyst: RBC analyst Ken Herbert reiterated Outperform ratings for the following aerospace companies in a note published Monday:
<ul>
<li>Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), lowering its price target from $220 to $200.</li>
<li>General Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), raising its price target from $190 to $210.</li>
<li>General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), maintaining its price target at $320.</li>
<li>Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>), lowering its price target from 180 euros to 160 euros.</li>
</ul>
Industry Takeaways: Herbert noted the industry&#8217;s impressive performance in 2024.
&#8220;Investor sentiment into 3Q24 A&amp;D results is positive on defense stocks, with concerns about near-term incremental upside after the recent strength for many defense stocks. Sentiment seems universally bullish on the aerospace aftermarket, although these stocks appear about as crowded on the long side as we have seen,&#8221; the analyst said. &#8220;We believe the aero OE outlook is uncertain at best.&#8221;
The analyst noted his belief that aerospace valuations will hold in the near-to-mid term.
Boeing Takeaways: Herbert says that Boeing&#8217;s current risk-to-reward is favorable.
&#8220;We believe we are ~36 months into what should be a 4-to 5-year order cycle. Granted, the world is different today than it was for any prior cycle, but we expect demand for narrowbody aircraft to remain strong,&#8221; Herbert said.
The analyst believes that the ongoing labor strike at Boeing will be resolved before it releases its third-quarter earnings.
GE Aero Takeaways: Although Herbert raised General Electric&#8217;s price target, he simultaneously lowered expectations of 2024, 2025 and 2026 LEAP engine deliveries.
&#8220;While we are more cautious on revenue growth, we are raising our estimates for adj operating income and adj. EPS as GE Aero benefits from mix,&#8221; the analyst said. &#8220;We believe the healthy aftermarket demand fundamentals and continued favorable pricing on spare parts will offset downside risk to new LEAP deliveries, although investors will likely be focused on execution for this program.&#8221;
Herbert believes that the bear case for GE is &#8220;fading&#8221; amid efforts to derisk its balance sheet.
General Dynamics Takeaways: Herbert&#8217;s lowering of General Dynamics&#8217; price target comes amid pessimism in Gulfstream delivery estimates. The analyst sees headwinds ahead in delivering its G700 aircraft.
Herbert is still bullish on the company, with a perceived upside amid the continuing war in Ukraine.
Airbus Takeaways: The analyst&#8217;s lowered price target is attributed to lower delivery estimates in the near term. He believes the stock can perform well, even though the company will likely walk back its mid-decade target of 1,000 deliveries.
Herbert sees Airbus&#8217; core strengths as its strong backlog, cash position and margin expansion.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41336413/oil-prices-take-largest-plunge-in-over-a-year-as-israel-vows-to-spare-iranian-facilities-energy-stoc">Oil Prices Take Largest Plunge In Over A Year As Israel Vows To Spare Iranian Facilities: Energy Stocks Sink, Airlines, Cruise Lines Rally</a></li>
</ul>
Photo: Gorodenkoff/Shutterstock.com

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EADSY

Aerospace Stocks Face Tough Questions: Can Boeing, GE, Airbus Justify Sky-High Valuations?

General Dynamics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) short percent of float has risen 53.06% since its last report. The company recently reported that it has 3.68 million shares sold short, which is 1.5% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.23 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/2024/1728933318_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 2.96%, 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.

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Short Ideas

How Is The Market Feeling About General Dynamics?

The world&#39;s best hedge funds and investors tend to look at more abstract data than the average retail investor does. Now, some of this data might not be accessible, such as satellite feeds to figure out parking lot traffic and predict a financial quarter for a retail stock. However, other data points and public information are free to access, which still generates an advantage for those who look over them.
Today, the data investors can look over is found in which companies are receiving new government contracts, as the expectation is to see higher demand for their services and products in the coming months. Through this database, investors will land on the top three stocks, earning multi-million dollar contracts from the United States government. They are all focused on the theme of arms and defense, with a mix of cybersecurity in the technology sector.
This list includes names representing the defense sector, such as General Dynamics Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gd#NYSE">GD</a>) and Lockheed Martin Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>). Then there is Oracle CO. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>), which is in the cybersecurity end of the market. It makes sense for the government to call upon these companies to ramp up national security, especially as geopolitical conflicts are on the rise in the Middle East, and that creates an opportunity for retail investors to take advantage of.
<h2>Multi-Million Dollar Contract Drives Analyst Upgrades for General Dynamics Stock</h2>
The latest reports show a contract of up to $614 million for General Dynamics, a decision from the government that comes at a time when the conflicts between Israel and other nations escalate, leading U.S. allies to call for military support.
Based on this current contract, Wall Street analysts think that the company could generate additional revenue and earnings, a view that they have reflected in their price targets today. While the consensus valuation is for $317 a share today, calling for a 6.7% upside from today&#39;s prices, investors should focus on the outliers.
Leading the bullish sentiment, Morgan Stanley thinks that General Dynamics could get up to $345 a share, implying a net upside of 16.5% from where the stock trades today. Considering the stock already trades at 97% of its 52-week high, these analysts now expect to see a new high for the year in this stock, something investors need to keep in mind.
The earnings per share (EPS) forecast today is driving these valuations higher. Wall Street has landed on a projection for $4.22 a share in the next 12 months, a significant jump of 29.5% from this quarter&#39;s $3.26. It&#39;s not often that investors see a $81.1 billion company offer double-digit upside and EPS growth, but that&#39;s the effect new contracts have.
<h2>Lockheed Martin Called Upon Global Conflicts: Stock Gains Investor Favor</h2>
This is another defense stock trading near its 52-week high, at 95% this time, to show investors the market does have a reasonable preference for this stock during today&#39;s ongoing military conflicts. The price action is only the beginning of the bullish story in this stock, though, as Wall Street has also broken out with its own set of gauges.
Starting with analysts, those at the Royal Bank of Canada have landed an &quot;Outperform&quot; rating as recently as October 2024. This time, they chose to go with a price target boost as well, projecting Lockheed Martin stock to $675 a share to imply up to 12% net upside from where the company trades today, which is also a new yearly high.
The latest database updates show up to $599 million in capital being granted to Lockheed Martin as a government contract, giving investors a new viewpoint as to how important this stock is becoming in the eyes of the market and today&#39;s national security concerns.
Knowing this is the new reality for Lockheed Martin stock, markets are now willing to overpay for exposure to its future earnings. On a price-to-book (P/B) ratio, Lockheed Martin stock trades at a high 21.4x multiple, significantly above the aerospace sector&#39;s average valuation of 5.6x P/B today. Commanding a premium is always justified with underlying growth, and Lockheed wants to deliver on that.
<h2>Cybersecurity Concerns Rise, Positioning Oracle for Major Government Grants</h2>
Conflicts are now extending past the physical front and taking on a new shape through technology, where cybersecurity capabilities become more important for leading nations to cover as conflicts rise.
This is why the U.S. granted Oracle up to $358.6 million over the past quarter, calling on its services and technology to help.
Of course, this raises sentiment among Wall Street analysts and other investors, which is why analysts at Sanford C. Bernstein have reiterated their &quot;Outperform&quot; rating on Oracle stock, a view that came alongside a price target of $202 a share.
To prove these new valuations right, the stock must rally as much as 17% upside from where Oracle stock trades today. This would make for another new 52-week high, setting the bullish momentum trend for these defense and national security stocks, which the government prefers and picks.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/big-government-contracts-propel-these-3-defense-stocks-higher/">Big Government Contracts Propel These 3 Defense Stocks Higher</a>&quot; first appeared on MarketBeat.

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ORCL

Big Government Contracts Propel These 3 Defense Stocks Higher

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><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/636e1b25ae71ff0001ec007e/dominic-o'kane">JP Morgan analyst Dominic O&#8217;Kane</a> downgraded the rating for ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) from Overweight to Neutral. ArcelorMittal shares gained 0.6% to close at $24.76 on Thursday. <a href="https://www.benzinga.com/quote/MT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo analyst Andrew Bauch downgraded the rating for Flywire Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYW#NASDAQ">FLYW</a>) from Overweight to Equal-Weight and slashed the price target from $20 to $18. Flywire shares rose 2.7% to close at $16.49 on Thursday. <a href="https://www.benzinga.com/quote/FLYW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Richard Safran downgraded the rating for General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Buy to Neutral. General Dynamics shares fell 0.9% to close at $296.05 on Thursday. <a href="https://www.benzinga.com/quote/GD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley analyst Joseph Moore downgraded the rating for Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) from Overweight to Equal-Weight and lowered the price target from $130 to $120. Qorvo shares fell 0.7% to close at $101.50 on Thursday. <a href="https://www.benzinga.com/quote/QRVO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/585939c2ee7bf600010fe946/vijay-rakesh">Mizuho analyst Vijay Rakesh</a> downgraded Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) from Outperform to Neutral and lowered the price target from $30 to $13. Mobileye gained 1.8% to settle at $12.29 on Thursday. <a href="https://www.benzinga.com/quote/MBLY/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying GD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11092552/image-89-1024x490.png" alt="" class="wp-image-591352" style="width:631px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11092552/image-89-1024x490.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11092552/image-89-300x143.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11092552/image-89-768x367.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11092552/image-89.png 1313w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41290375/how-to-earn-500-a-month-from-bank-of-america-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Bank of America Stock Ahead Of Q3 Earnings</a></li>
</ul>

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