Citi Starts Coverage of General Dynamics (GD), Highlights Aerospace and Defense Tailwinds

General Dynamics Corporation (NYSE:GD) is included among the 15 Best Blue-Chip Stocks with Growing Dividends.

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On December 12, Citi initiated coverage of General Dynamics Corporation (NYSE:GD) with a Neutral rating and a $371 price target. The firm rolled out coverage on 24 names across the aerospace and defense space, pointing to a “number of megatrends” shaping commercial aerospace, defense, shipbuilding, and space. Citi said these forces could ultimately give rise to at least one trillion-dollar market-cap company in the years ahead.

General Dynamics Corporation (NYSE:GD) has also landed a notable contract win, as earlier in November, the company received a $2.28 billion modification to an existing US Navy contract tied to additional advance procurement and construction work on Columbia-class fleet ballistic missile submarine hulls. The project is expected to run through December 2031.

On the shareholder returns front, General Dynamics Corporation (NYSE:GD) declared a quarterly dividend of $1.50 per share on December 3, matching its prior payout. That decision extended the company’s track record of dividend growth to 28 consecutive years.

General Dynamics Corporation (NYSE:GD) is a global aerospace and defense company that develops, builds, and supports advanced systems and products for defense, government, and commercial customers.

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Disclosure: None.