Contents
- 1 General Dynamics awarded $199.71M Navy contract modification
- 2 General Dynamics to Webcast 2021 Fourth-Quarter and Full-Year Financial Results Conference Call
- 3 General Dynamics price target raised to $235 from $230 at Wells Fargo
- 4 BAE Systems, General Dynamics awarded on $337.61M Navy contract
- 5 BAE Systems, General Dynamics awarded on $639.8M Navy contract
- 6 General Dynamics upgraded to Buy at UBS with ‘positive bias’ for FY22
- 7 General Dynamics awarded $149.35M Navy contract modification
- 8 General Dynamics awarded $829.24M Defense Intelligence Agency task order
- 9 📺 Do You Know How Big The General Dynamics Company is?
- 10 📈 GD Stock Technical Analysis
On January 23, 2022, we are detecting lots of buzz surrounding GD stock and huge government contract awards.
On January 20, 2022, General Dynamics was awarded a $199.71M modification to exercise options on a previously awarded contract for the USS Iwo Jima FY22 docking selected restricted availability. Work will be performed in Norfolk, Virginia, and is expected to be completed by June 2023. FY22 other procurement funds in the amount of $176.38M will be obligated at time of award and will not expire at the end of the current fiscal year. FY22 operations and maintenance funds in the amount of $23.32M will be obligated at time of award and will expire at the end of the current fiscal year. Mid-Atlantic Regional Maintenance Center is the contracting activity.
General Dynamics to Webcast 2021 Fourth-Quarter and Full-Year Financial Results Conference Call
General Dynamics (NYSE: GD) will webcast its fourth-quarter and full-year 2021 financial results conference call on Wednesday, January 26, 2022, beginning at 9 a.m. EST.
General Dynamics price target raised to $235 from $230 at Wells Fargo
On January 10, 2022, Wells Fargo analyst Matthew Akers raised the firm’s price target on General Dynamics to $235 from $230 and keeps an Overweight rating on the shares. The analyst notes General Dynamics remains his top pick in the defense group, and should benefit from business jet strength and improving capital deployment with large investments now behind.
On January 6, 2022, BAE Systems (BAESY) and General Dynamics (GD), were awarded a firm-fixed price, indefinite-delivery/indefinite-quantity, multiple award contract for a combined ceiling of $337.61M for complex repair, maintenance and modernization requirements of non-nuclear Navy amphibious-class ships homeported in or visiting Norfolk, Virginia. These efforts consist of Chief of Naval Operations scheduled docking and non-docking, continuous maintenance and emergent maintenance availabilities of amphibious-class ships to be performed in the Norfolk, Virginia, port. Accordingly, the place of performance is the Norfolk, Virginia, port where the Mid-Atlantic Maintenance Center will administer the contract.
Delivery orders will be competitively awarded under this multiple award contract, which are to be performed in Norfolk, Virginia. The contract has an estimated ordering period of five years, which is expected to end in January 2027. No funding will be obligated at contract award. The multiple award contract was competitively procured using full and open competition with six offers received via the beta.sam.gov website. The Naval Sea Systems Command is the contracting activity.
On January 6, 2022, BAE Systems (BAESY) and General Dynamics (GD) were awarded a firm-fixed price, indefinite-delivery/indefinite-quantity, multiple award contract with a combined ceiling of $639.8M for complex repair, maintenance and modernization requirements of non-nuclear Navy surface combatant-class ships homeported in or visiting Norfolk, Virginia. These efforts consist of Chief of Naval Operations scheduled docking and non-docking, continuous maintenance and emergent maintenance availabilities of surface combatant class ships to be performed in the Norfolk, Virginia, port. Accordingly, the place of performance is the Norfolk, Virginia, port where the Mid-Atlantic Maintenance Center will administer the contract.
The contract has an estimated ordering period of five years, which is expected to end in January 2027. Delivery orders will be competitively awarded under these contracts, which are to be performed in Norfolk, Virginia. Fiscal 2022 operation and maintenance funding in the amount of $60,000 is obligated at initial delivery, which will expire at the end of the current fiscal year. The multiple award contract was competitively procured using full and open competition with six offers received via the beta.sam.gov website. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.
General Dynamics upgraded to Buy at UBS with ‘positive bias’ for FY22
On December 14, 2021, UBS analyst Myles Walton upgraded General Dynamics to Buy from Neutral with a price target of $245, up from $220, as part of a broader research note on U.S. Aerospace and Defense. The analyst notes that while growth investors in the space have “left the building”, more realistic expectations of mid-to-high single digit growth are setting in. FY22 could be a grind but with a positive bias as “likely benign” budgetary news, the potential for positive revisions, and rising geopolitical tensions provide some uplift, Walton tells investors in a research note.
On November 24, 2021, General Dynamics was awarded a $149.35M cost-plus-award-fee modification against previously awarded contract for DDG planning yard services. Work will be performed in Bath, Maine and is expected to be completed by January 2023. FY22 operations and maintenance funding in the amount of $889,173 will be obligated at time of award and will expire at the end of the current fiscal year. The Supervisor of Shipbuilding, Conversion, and Repair is the contracting activity.
General Dynamics awarded $829.24M Defense Intelligence Agency task order
On November 22, 2021, General Dynamics was awarded a $829.24M fixed-price, award-fee task order to provide all information technology help desk services for the Defense Intelligence Agency, or DIA. Work will be performed at Joint Base Anacostia-Bolling in Washington, D.C., and other DIA sites, with an expected completion date of January 27, 2032. FY22 operations and management funds in the amount of $19,962 are being incrementally funded at the time of award for base-year labor. This contract was a competitive acquisition, and five offers were received. The Virginia Contracting Activity is the contracting activity.
📺 Do You Know How Big The General Dynamics Company is?
📈 GD Stock Technical Analysis
The long-term trend is positive and the short-term trend is neutral. GD is one of the better-performing stocks in the Aerospace & Defense industry, it outperforms 88% of 70 stocks in the same industry. GD is currently trading near its 52 week high. This is a good sign, certainly because the S&P500 Index is not trading near new highs.
There is a support zone ranging from 202.23 to 204.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also a support zone ranging from 186.88 to 196.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is a resistance zone ranging from 209.52 to 213.11. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Besides having an excellent technical rating, GD also presents a decent setup pattern. GD stock has a Setup Rating of 5. Prices have been consolidating lately. There is a support zone below the current price at 204.98, a Stop Loss order could be placed below this zone. Click here to sign up for email alerts on when GD stock has a Setup Rating of 8 or better.
