10 Stocks That Could 10X Over the Next 5 Years

3) General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders: 48

General Dynamics Corporation (NYSE:GD) operates as an aerospace and defense company.

In the near term, the diversified nature of the portfolio should support General Dynamics Corporation (NYSE:GD)’s stock price. Wall Street experts opine that the recent final FAA certification for the G700 aircraft is the significant milestone for the company. This certification should contribute positively to its performance and market sentiment. While its Aerospace division saw significant attention, General Dynamics Corporation (NYSE:GD)’s defense business should continue to be a cornerstone of its operations.

Industry veterans believe that the outlook for the business jet market is positive, which bodes well for the company’s expected delivery ramp, mainly for its Gulfstream aircraft. Overall, the healthy long-term fundamentals in the business jet market gives a favorable environment for the company’s aerospace operations over the near term.

Moving forward, the G700’s entry into service might fuel increased sales and market share for General Dynamics Corporation (NYSE:GD) in the ultra-long-range business jet segment. The company’s defense business offers numerous potential growth drivers, which should contribute to its long-term success. The ongoing global demand for naval systems should act as a potential tailwind.

BTIG Research assumed coverage on the shares of General Dynamics Corporation (NYSE:GD) on 26^th June. They gave a “Buy” rating and a $345.00 price objective. As per Insider Monkey’s Q2 2024 data, 48 hedge funds held stakes in the company.