U.S. Navy Awards General Dynamics Corporation (GD) a $698 Million Contract; Seaport Global Securities Upgrades from Neutral to Buy with PT $376

General Dynamics Corporation (NYSE:GD) is one of the 13 Safest Stocks to Invest in Now, supported by hedge fund interest and significant return on equity.

U.S. Navy Awards General Dynamics Corporation (GD) a $698 Million Contract; Seaport Global Securities Upgrades from Neutral to Buy with PT $376

General Dynamics Corporation (NYSE:GD) was upgraded by Neutral to Buy by Seaport Global Securities on September 29. The company’s price target was raised from its previous level to $376. Budget discussions, according to Seaport, may momentarily hurt stock prices but offer a good starting point, along with increased tax breaks, perhaps boosting demand for business jets.

Furthermore, the update comes after General Dynamics Corporation (NYSE:GD) was awarded $698 million in U.S. Navy contracts recently, including a $42.5 million contract for submarine parts and a $642.3 million award for the building of Virginia-class submarines. As evidence of its continued strength in its defense backlog, General Dynamics Corporation (NYSE:GD) recently obtained a $13.4 million contract modification related to space defense systems.

Global aerospace and defense company General Dynamics Corporation (NYSE:GD) supplies government and private customers worldwide with mission-critical systems, information technology, shipbuilding, business aviation and combat vehicles. It is one of the Safest Stocks To Buy.

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