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GD

General Dynamics

$196.77

3.53 (1.83%)

07:33
07/25/18
07/25
07:33
07/25/18
07:33

General Dynamics reports end Q2 backlog of $66.3B

General Dynamics' total backlog at the end of second-quarter 2018 was $66.3B. The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity contracts and unexercised options, was $32.7B. Total potential contract value, the sum of all backlog components, was $99B at the end of the quarter. Gulfstream unit orders were 21% higher than the year-ago quarter, with large-cabin orders accounting for approximately 75% of the demand. Total backlog for the defense businesses was up 7.7% from the end of first-quarter 2018, due to the CSRA acquisition and strong order activity across the segments. On an organic basis, Information Technology achieved a book-to-bill ratio greater than one-to-one, and the book-to-bill ratio in Mission Systems was one-to-one.

  • 25

    Jul

GD General Dynamics
$196.77

3.53 (1.83%)

06/15/18
RBCM
06/15/18
NO CHANGE
Target $232
RBCM
Outperform
General Dynamics price target lowered to $232 from $256 at RBC Capital
RBC Capital analyst Matthew McConnell lowered his price target on General Dynamics to $232 and kept his Outperform rating. The analyst cites his reduced expected margins for the Aerospace segment by 2-3 percentage points following the company's presentation at last week's investor conference as well as his recent conversations with the management. McConnell adds that General Dynamics remains one of the cheapest large defense plays which supports his rating, as it trades at about a 17% PE discount relative to peers, but lowers his FY19 EPS outlook to $12.39 from $12.87.
06/14/18
JPMS
06/14/18
NO CHANGE
Target $225
JPMS
Underweight
General Dynamics price target lowered to $225 from $235 at JPMorgan
JPMorgan analyst Seth Seifman lowered his price target for General Dynamics to $225 and maintains an Underweight rating on the shares. The stock's recent underperformance is driving some more interest on the long side, but performance is not much worse than other defense stocks, Seifman tells investors in a research note. The analyst says he's not yet comfortable with Gulfstream's long-term profit potential as G650 production declines amid new competition. Further, he thinks the CSRA deal "remains a show-me for investors."
06/14/18
LEHM
06/14/18
NO CHANGE
Target $256
LEHM
Overweight
General Dynamics price target lowered to $256 from $282 at Barclays
Barclays analyst David Strauss lowered his price target for General Dynamics to $256 to reflect lower pricing and margins on the G500/G600. The company continues to reiterate that Gulfstream margins will decline, Strauss tells investors in a research note. The analyst believes Gulfstream has had difficulty selling aircraft at price premiums and has had to discount in order to build out its backlog as the aircraft approach entry into service. He keeps an Overweight rating on General Dynamics.
05/22/18
FBCO
05/22/18
NO CHANGE
Target $234
FBCO
Outperform
General Dynamics price target lowered to $234 from $263 at Credit Suisse
Credit Suisse analyst Robert Spingarn lowered his price target for General Dynamics to $234 from $263 as he downgrades his outlook for Defense hardware stocks to neutral from bullish. The analyst reiterates an Outperform rating on the shares.

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