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MarketScreener Homepage  >  Equities  >  Nyse  >  General Dynamics Corporation    GD

GENERAL DYNAMICS CORPORATION

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General Dynamics : US Navy Awards $22 Billion Contract to General Dynamics Electric Boat

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12/02/2019 | 06:12pm EST

By Stephen Nakrosis

A General Dynamics subsidiary will build nine new submarines for the U.S. Navy.

The Pentagon said Monday it awarded a $22,209,893,409 multiyear modification of a previously awarded contract to General Dynamics Electric Boat Corp.

The contract calls for the construction of nine Virginia-class submarines, and contains an option for the construction of one additional submarine. If the option is exercised, the value of the contract will increase to $24,097,439,556, the Pentagon said.

Work will be performed in Newport News, Va., Quonset Point, R.I., Groton, Conn., and Sunnyvale, Calif., among other locations, the Pentagon said.

Huntington Ingalls Industries Newport News Shipbuilding division is a major subcontractor, the Pentagon said.

The Virginia-class is an attack submarine which is slated to replace the Los Angeles class as those submarines are retired.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL DYNAMICS CORPORATION -0.26% 183.115 Delayed Quote.16.75%
HUNTINGTON INGALLS INDUSTRIES, INC. -0.07% 253.24 Delayed Quote.33.16%
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Financials (USD)
Sales 2019 39 193 M
EBIT 2019 4 628 M
Net income 2019 3 455 M
Debt 2019 9 398 M
Yield 2019 2,19%
P/E ratio 2019 15,4x
P/E ratio 2020 14,2x
EV / Sales2019 1,59x
EV / Sales2020 1,48x
Capitalization 52 976 M
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Technical analysis trends GENERAL DYNAMICS CORPORATI
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 202,06  $
Last Close Price 183,55  $
Spread / Highest target 38,9%
Spread / Average Target 10,1%
Spread / Lowest Target -6,29%
EPS Revisions
Managers
NameTitle
Phebe N. Novakovic Chairman & Chief Executive Officer
Jason Wright Aiken Chief Financial Officer & Senior Vice President
Christopher Marzilli Executive Vice President-Information Technology
Les L. Lyles Independent Director
James Schine Crown Lead Independent Director
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