From TipRanks: 2024-05-25 02:48:24

General Dynamics stock (NYSE:GD) is soaring to new all-time highs amidst unstable global geopolitics. The company’s revenue growth is driven by a surge in defense budgets and strong order momentum, leading to record revenues of $42.3 billion last year and a backlog of $93.7 billion for 2024.

In Q1-2024, General Dynamics reported record revenues of $10.7 billion, an 8.6% increase from last year. The Aerospace division saw a 10.1% revenue growth, Combat Systems revenue rose by almost 20%, and Marine Systems sustained momentum with an 11.3% increase. Only the Technologies division experienced a slight decline in revenues.

Analysts are bullish on General Dynamics, expecting record revenues of $46.94 billion and earnings per share of $14.59 for 2024. With a Strong Buy consensus rating and an average price target suggesting 5.4% upside potential, the stock remains attractive for investors seeking exposure to the aerospace & defense sector.



Read more at TipRanks: General Dynamics Stock (NYSE:GD): Further Upside Likely Despite All-Time Highs