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

General Dynamics Co. (NYSE:GD) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,910,000 shares, a decrease of 5.5% from the October 31st total of 3,080,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GD shares. Barclays increased their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Susquehanna upped their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Stock Performance

Shares of GD stock opened at $277.66 on Thursday. The firm has a market capitalization of $76.35 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a fifty day moving average of $296.50 and a 200 day moving average of $295.17. General Dynamics has a 1 year low of $247.36 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $3.04 EPS. As a group, research analysts expect that General Dynamics will post 13.98 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.05%. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the period. State Street Corp grew its position in shares of General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the period. Geode Capital Management LLC grew its position in shares of General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after acquiring an additional 638,342 shares during the period. Two Sigma Advisers LP grew its position in shares of General Dynamics by 117.0% during the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after acquiring an additional 463,000 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.