General Dynamics Co. (NYSE:GD) Short Interest Update

General Dynamics Co. (NYSE:GD) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,564,500 shares, a drop of 9.6% from the July 31st total of 2,838,100 shares. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.9% of the shares of the stock are sold short.

GD traded up $0.55 on Friday, reaching $189.96. 1,050,738 shares of the company traded hands, compared to its average volume of 928,860. General Dynamics has a one year low of $143.87 and a one year high of $207.72. The firm has a fifty day simple moving average of $186.34 and a two-hundred day simple moving average of $176.47. The company has a market cap of $54.71 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.70.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. During the same quarter last year, the business posted $2.82 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that General Dynamics will post 11.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a yield of 2.15%. General Dynamics’s payout ratio is 35.73%.

In other news, VP Mark Lagrand Burns bought 159 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $179.56 per share, for a total transaction of $28,550.04. Following the acquisition, the vice president now owns 39,643 shares of the company’s stock, valued at $7,118,297.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. 7.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in General Dynamics by 852.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock valued at $189,997,000 after purchasing an additional 935,275 shares during the period. Thoroughbred Financial Services LLC increased its position in General Dynamics by 18,507.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after purchasing an additional 921,307 shares during the period. Impala Asset Management LLC purchased a new position in General Dynamics during the 2nd quarter valued at about $94,759,000. Caisse DE Depot ET Placement DU Quebec increased its position in General Dynamics by 11.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after purchasing an additional 383,200 shares during the period. Finally, Farallon Capital Management LLC increased its position in General Dynamics by 23.5% during the 2nd quarter. Farallon Capital Management LLC now owns 1,335,214 shares of the aerospace company’s stock valued at $242,769,000 after purchasing an additional 253,726 shares during the period. Institutional investors own 86.31% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price for the company in a report on Monday, September 2nd. Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Morgan Stanley raised their target price on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Finally, Cowen set a $202.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. General Dynamics currently has an average rating of “Hold” and an average price target of $193.35.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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