General Dynamics faces business jet headwinds but margins remain resilient.
Wide-moat General Dynamics reported second-quarter 2016 results. In the face of a 2.8% revenue decrease, the company handily beat EPS consensus by 13 cents. Moreover, despite unfavorable comps due to the sale of a cybersecurity business in the second quarter of last year, the company still managed to expand operating margins by 30 basis points year over year. We previously raised our fair value estimate following first-quarter results and shares are now trading roughly at this price. Based on We...General Dynamics is an aerospace and defense company. The company has five operating segments: Aerospace, which provides a family of Gulfstream aircraft and services for business aircraft produced by Gulfstream and other original equipment manufacturers; Combat Systems, which provides combat vehicles, weapons systems and munitions; Information Technology, which provides information technology (IT) services, IT infrastructure modernization and professional services; Mission Systems, which provides mission-critical products and systems; and Marine Systems, which designs and builds nuclear-powered submarines, surface combatants, and auxiliary and combat-logistics ships.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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