General Dynamics Corporation’s GD business unit, Land Systems Inc., has won a contract from the U.S. Army to continue work on the Stryker ground combat vehicles.
The contract has been valued at $549.9 million and the contracting activity is Army Contracting Command, Warren, MI.
Work is expected to be complete by Feb 28, 2019. Location of work and funds to be used will be determined individually for each order.
Stryker is an eight-wheeled combat vehicle that is lighter, smaller and more readily deployable than other Army combat vehicles. It provides Combatant Commanders with a tactically deployable (C-17/C-5) and operationally deployable (C-130) brigade that can move anywhere in the world swiftly in a combat-ready configuration.
We note that General Dynamics engages in mission-critical information systems and technologies; land and expeditionary combat vehicles, armaments and munitions; shipbuilding and marine systems; and business aviation. The company’s revenues are derived from a broad portfolio of products and services that help to keep the overall growth momentum steady.
Over the years, General Dynamics has maintained a longstanding strategic alliance with the U.S. defense department and tries to meet its commitments in terms of maintaining product and service standards along with delivery timing.
Zacks Rank & Key Picks
General Dynamics currently has a Zacks Rank #3 (Hold). A better-ranked stock in the same space is Huntington Ingalls Industries, Inc. HII, sporting a Zacks Rank #1 (Strong Buy). HEICO Corporation HEI and Spirit AeroSystems Holdings, Inc. SPR are a couple of other well-placed stocks in the aerospace and defense equipment industry. Both the companies carry a Zacks Rank #2 (Buy).
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