Sterne Agee CRT says that its checks on General Dynamics' G500 flight test program show that it is hitting its milestones and exceeding its performance targets. The firm says these developments bode well for sales of the G500 and the development of the G800. It keeps a $175 price target and Buy rating on the shares.

RBC Capital lowered the firm's price target on General Dynamics to $320 from $325 after its Q1 earnings miss but keeps an Outperform rating on the shares. The company's revenue growth was driven by double-digit growth in Combat Systems, Marine Systems, and Aerospace, but while the management provided cautious comments on Q2 earnings and free cash flow, the set-up into the second half remains "very favorable", the analyst tells investors in a research note. RBC adds that it continues to see capital allocation as a key catalyst for General Dynamics.

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Reports Q1 revenue $10.7B, consensus $10.32B. "Our businesses delivered solid operating results in the quarter, growing revenue and backlog, while expanding margins, even as we awaited G700 certification," said Phebe N. Novakovic, chairman and chief executive officer. "In the Aerospace segment, the recent FAA certification of the Gulfstream G700 has enabled us to begin customer deliveries. This is a strong start to 2024 and we remain confident in our outlook."