General Dynamics NASSCO Awarded $75M Navy Contract to Maintain USS Makin Island

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General Dynamics ($NYSE:GD) is a global aerospace and defense company based out of Reston, Virginia. Recently, its subsidiary NASSCO has been awarded a potential $75 million contract by the U.S. Navy to provide maintenance, modernization, and repair services for the USS Makin Island, a Wasp-class amphibious assault ship. This contract will help to support the Navy’s long-term commitment to keeping up with the maintenance of these vessels. This is not the first large contract that General Dynamics and NASSCO have secured.

This was followed by a $2 billion contract from the US Navy to build two Expeditionary Sea Base ships, which are large vessels that serve as a platform for military operations, such as providing support for Navy Seal teams or humanitarian engagements. General Dynamics is poised to continue its support of the US Navy and military operations around the world. The company’s stock has seen steady growth over the past five years, and this recent award only further cements its place as one of the top defense contractors in the world.

Market Price

On Monday, the stock of GENERAL DYNAMICS opened at $210.2 and closed at $210.2, up by 0.1% from its prior closing price of 210.0. This was in response to the news that General Dynamics’ NASSCO subsidiary was awarded a $75 million Navy contract to maintain the USS Makin Island, an amphibious assault ship that is part of the U.S. Navy fleet. The contract will include maintenance, repair, and alterations to the ship, as well as options to extend the services for four additional years.

The USS Makin Island is equipped with state-of-the-art navigation and communication systems, making it an important asset for the Navy’s efforts in the Pacific region. The contract signifies NASSCO’s long-term commitment to the U.S. Navy and demonstrates General Dynamics’ continuing excellence in shipbuilding and maintenance. Live Quote…

About the Company

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Analysis

At GoodWhale, we have conducted an analysis of GENERAL DYNAMICS‘ fundamentals to provide investors with a better understanding of the company. Our Star Chart gives GENERAL DYNAMICS a health score of 8/10, indicating that the business has strong cashflows and debt, making them capable of paying off debt and funding future operations. We classify GENERAL DYNAMICS as a ‘cow’, a type of company with a track record of consistent and sustainable dividend payouts. Given its strong dividend, profitability, and medium asset ratings, GENERAL DYNAMICS is likely to appeal to a variety of investors who are looking for a reliable income stream and a mature business. However, its weak growth rating indicates that the company is not well-positioned to capitalize on opportunities for expansion. More…

Peers

General Dynamics Corp is one of the world’s leading aerospace and defense companies. It designs, develops, manufactures and supports a wide variety of products for both military and commercial customers. The company has a strong competitive position in many of its businesses, including aircraft, missiles, information technology, shipbuilding and submarines. Its main competitors are Lockheed Martin Corp, Northrop Grumman Corp, Aerojet Rocketdyne Holdings Inc.

– Lockheed Martin Corp ($NYSE:LMT)

Lockheed Martin Corp is a global security and aerospace company. It is principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. The company has a market cap of 115.3B as of 2022 and a Return on Equity of 40.32%. Lockheed Martin is a leading provider of technology solutions for the defense, space, and security industries. The company’s products and services include air and missile defense systems, radar systems, electronic warfare systems, and satellite communications systems.

– Northrop Grumman Corp ($NYSE:NOC)

Northrop Grumman Corporation is an American global aerospace and defense technology company formed by the merger of Northrop Corporation and Grumman Corporation on January 6, 1996. The company has a market cap of 79.04B as of 2022 and a Return on Equity of 34.54%. Northrop Grumman is a leading supplier of military aircraft, satellites, and other defense systems. The company also provides a variety of other products and services, including security systems, information technology solutions, and engineering services.

– Aerojet Rocketdyne Holdings Inc ($NYSE:AJRD)

Aerojet Rocketdyne Holdings Inc is a holding company for Aerojet Rocketdyne, Inc, a leading aerospace and defense company. The company’s market cap as of 2022 was 3.5 billion, and its ROE was 21.2%. The company’s products include rockets, missiles, and propulsion systems for both military and civilian applications.

Summary

General Dynamics Corporation has recently won a $75 million contract from the U.S. Navy to maintain, modernize, and repair the USS Makin Island, a Wasp-class amphibious assault ship. The contract is a boon for General Dynamics’ business, and investors may be wise to consider investing in the company for its increased market potential. General Dynamics has a strong track record of successful government contracts and its stock has seen an increase in value since the announcement.

The contract will also provide many benefits to the local community and the military as a whole. Investors should be sure to carefully monitor the company’s financials and performance as it continues to expand its portfolio of government contracts.