Short Interest in General Dynamics Co. (NYSE:GD) Decreases By 8.6%

General Dynamics Co. (NYSE:GD) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,540,000 shares, a decrease of 8.6% from the August 30th total of 2,780,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.9% of the company’s shares are sold short.

In other General Dynamics news, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $187.16, for a total value of $6,163,178.80. Following the transaction, the executive vice president now owns 100,557 shares of the company’s stock, valued at $18,820,248.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary L. Whited sold 14,029 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the transaction, the vice president now directly owns 37,542 shares in the company, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Insiders have sold 48,459 shares of company stock worth $9,079,802 in the last ninety days. 7.10% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. United Bank raised its stake in shares of General Dynamics by 3.9% during the first quarter. United Bank now owns 4,740 shares of the aerospace company’s stock valued at $802,000 after purchasing an additional 180 shares during the period. First Trust Advisors LP raised its stake in shares of General Dynamics by 6.6% during the first quarter. First Trust Advisors LP now owns 449,969 shares of the aerospace company’s stock valued at $76,171,000 after purchasing an additional 27,884 shares during the period. Belpointe Asset Management LLC raised its stake in shares of General Dynamics by 13.2% during the first quarter. Belpointe Asset Management LLC now owns 1,225 shares of the aerospace company’s stock valued at $207,000 after purchasing an additional 143 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of General Dynamics during the first quarter valued at approximately $48,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of General Dynamics during the first quarter valued at approximately $42,000. Institutional investors own 86.26% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, September 2nd. Robert W. Baird increased their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Barclays set a $215.00 target price on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley cut their target price on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research note on Thursday, October 10th. Finally, Cowen set a $202.00 target price on General Dynamics and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $193.58.

Shares of General Dynamics stock traded down $0.68 during trading hours on Thursday, hitting $177.61. The company’s stock had a trading volume of 255,735 shares, compared to its average volume of 1,261,688. General Dynamics has a 12 month low of $143.87 and a 12 month high of $193.76. The stock has a 50 day moving average of $184.80 and a 200 day moving average of $178.80. The company has a market capitalization of $51.74 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same period in the prior year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts expect that General Dynamics will post 11.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.02 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.30%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.

About General Dynamics

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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