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Market Update: General Dynamics Corp (NYSE:GD) – General Dynamics, Rockwell Collins, Harris Corp awarded $12 bln Pentagon contract

[Reuters] – General Dynamics, Rockwell Collins and Harris Corp were awarded a contract for more than $12 billion for manpack radios, the Pentagon said on Friday. The Defense Department said the contract was for the … Read more on this. General Dynamics Corporation (GD) , currently valued at $42.66B, started trading this morning at $137.61. Looking at today’s market, GD one day range is $137.01 to $138.53 with the price of the stock fluctuating between $121.61 to $153.76 over the last 52 weeks. Priced at 14.62x this year’s forecasted earnings, GD shares are relatively inexpensive compared to the industry ’s 40.95x forward p/e ratio. The company pays shareholders $2.76 per share annually in dividends, yielding 2.03%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $2.17 per share, which would be $0.03 better than the year-ago quarter and a $0.08 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $9.39 is a $0.31 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.71 Billion. If realized, that would be a 0.90% decrease over the year-ago quarter. In terms of ratings, Drexel Hamilton upgraded GD from Hold to Buy (Dec 21, 2015). Previously, Argus upgraded GD from Hold to Buy. With the above information in mind, readers should note that the average price target is $160.31, which is 16.50% above where the stock opened this morning. See more in (NYSE:GD) Similar Articles: Company Update: General Dynamics Corp (NYSE:GD) – General Dynamics Wins Contract to Provide Communications Services to USAFCENT in Southwest and Central Asia Stock Update: General Dynamics Corp (NYSE:GD) – General Dynamics Receives $24 Million Contract for Submarine Planning Services Market Update: General Dynamics Corp (NYSE:GD) – General Dynamics Awarded $358 Million for 150 M1A1 SA Abrams Tanks for Morocco
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