Aerospace/defense giant General Dynamics is thriving as the war between Russia and Ukraine drags on and the battle between Israel and Hamas in the Middle East expands to other countries. Add to that rising competition with China for global military dominance. On Wednesday, the Relative Strength (RS) Rating for GD stock rose to 74, up from 68.
General Dynamics last quarter reported a 21% hike in earnings to $3.26 per share on an 18% rise in revenue to $12 billion. It has a strong 84 EPS Rating out of 99, and a near-best 98 Composite Rating, reflecting its overall financial strength.
The upgraded 74 RS Rating shows that General Dynamics stock bests 74% of all stocks in IBD's database for price growth this past year. The best growth stocks often have an 80 or higher RS Rating in the early stages of their moves. See if General Dynamics can continue to show renewed price strength and hit that benchmark.
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General Dynamics A Leader In Defense Products
General Dynamics is a global aerospace and defense company. Its broad products line runs from Gulfstream business jets and combat vehicles to nuclear-powered submarines and communications systems.
General Dynamics stock is trading within a buy range after climbing above a 302.75 buy point in a flat base. The proper buying range is up to 5% above the initial entry. Wednesday afternoon, GD stock traded around 304.
In terms of revenue and profits, General Dynamics has posted rising EPS growth over the last three quarters. Sales growth has also increased during the same period. The company is expected to report its next quarterly numbers on or around Oct. 23.
Highly Ranked In Strong Industry Group
General Dynamics holds the No. 6 rank among its peers in the 72-stock Aerospace/Defense industry group. GE Aerospace and Heico are among the top 5 highly rated stocks in the group. The group itself ranks a strong No. 32 on IBD's list of 197 industry groups.
IBD's unique Relative Strength Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
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