General Dynamics Corp. (GD)
Description: General Dynamics Corp. (GD) is a member of the S&P 500 and a member of the Broad Dividend Achievers™ Index. The company is the world’s sixth largest military contractor and also one of the world’s biggest makers of corporate jets.
Quantitative Stock Analysis: Updated: 3-21-2009
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Comments: Updated: 3-21-2009
GD has a long-term record of consistent earnings and dividend growth, which is reflected in its S&P Quality Ranking of A+. At the end of 2008, the company had a strong balance sheet with over $1.6 billion in cash just under $3.8 billion in debt. With a conservative debt to total cap of 27%, GD has the needed headroom to access the debt market for strategic needs. The company’s strong free cash flows and a 20% cash payout ratio, should ensure the dividend in the near-term. Risks include cuts in the military budget, failure of the company to execute existing contracts, failure to win new contracts and a deterioration in its business jet backlog.
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