What you need to know – TradingView News

General Dynamics Corporation, based in Reston, Virginia GDis a $76.7 billion global aerospace and defense company known for advanced design, engineering and manufacturing. The company is expected to report its fiscal second quarter results before the market opens on Wednesday, July 24.

In the run-up to the event, analysts expect GD to XLI 12.2% return over the same period.

The International Campaign to Abolish Nuclear Weapons (ICAN) has announced that the world’s major nuclear powers spent a total of a record $91.4 billion on their nuclear defense systems in 2023, a significant increase of 13.4% over 2022. General Dynamics has capitalized on this trend, gaining strong momentum in the broader market.

However, on April 24, General Dynamics’ shares fell 4% after announcing its first-quarter results. The company fell short of earnings expectations for the quarter, largely due to delays in the certification of the Gulfstream G700 business jet.

Nevertheless, the general opinion of analysts on General Dynamics stock is optimistic and is rated as a “Strong Buy” overall. Of the 20 analysts covering the stock, 15 recommend a “Strong Buy”, one suggests a “Moderate Buy” and the remaining four recommend a “Hold”. Three new “Strong Buy” recommendations have been added in the last three months.

The average analyst price target for GD is $316, suggesting a potential upside of 13.1% from current price levels.

As of the date of publication, Kritika Sarmah had no position (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please see Barchart’s disclosure policy here.