General Dynamics Electric Boat Corp (NYSE: GD) has secured a $145 million cost-plus-fixed-fee modification to previously awarded contract (N00024-19-C-2125) for engineering, technical, design agent and planning yard support for operational strategic and attack submarines.
Work will be performed in Groton, Connecticut; Kings Bay, Georgia; Bangor, Washington; Pearl Harbor, Hawaii; North Kingston, Rhode Island; as well as Newport, Rhode Island, and is slated to be completed by September 2024, the US Department of Defense said.
Stock Performance
The shares of General Dynamics Corporation (GD) closed 0.06% ($0.18) lower at $281.16 in New York on Friday, as they extended the loss from the previous market session.
The company’s total market cap now stands at $77.032 billion.
The shares of General Dynamics Corporation (GD) went up 4.66% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 8.27% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 12 out of 16 surveyed investment analysts had rated General Dynamics Corp’s stock as “Buy”, while 4 – as “Hold”. The median price target on the stock stands at $294.75, which translates into a 4.83% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $345.00.
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