General Dynamics Co. (NYSE:GD) Short Interest Up 12.3% in March

General Dynamics Co. (NYSE:GDGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,830,000 shares, an increase of 12.3% from the February 29th total of 1,630,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.7% of the company’s stock are short sold.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares in the company, valued at $39,502,023.75. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after purchasing an additional 133,061 shares during the last quarter. Wellington Management Group LLP boosted its position in General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after buying an additional 1,755,276 shares during the period. State Street Corp boosted its position in General Dynamics by 0.4% during the 2nd quarter. State Street Corp now owns 9,932,541 shares of the aerospace company’s stock valued at $2,136,986,000 after buying an additional 39,597 shares during the period. Price T Rowe Associates Inc. MD boosted its position in General Dynamics by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,667,549 shares of the aerospace company’s stock valued at $1,212,024,000 after buying an additional 345,554 shares during the period. Finally, Geode Capital Management LLC boosted its position in General Dynamics by 6.5% during the 1st quarter. Geode Capital Management LLC now owns 4,228,831 shares of the aerospace company’s stock valued at $962,711,000 after buying an additional 259,855 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock traded down $1.01 during midday trading on Tuesday, reaching $290.54. 1,688,413 shares of the stock were exchanged, compared to its average volume of 1,077,230. The company’s fifty day moving average is $272.42 and its 200-day moving average is $253.39. The firm has a market cap of $79.72 billion, a PE ratio of 24.17, a PEG ratio of 1.79 and a beta of 0.68. General Dynamics has a 52 week low of $202.35 and a 52 week high of $292.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. General Dynamics’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.58 EPS. On average, sell-side analysts forecast that General Dynamics will post 14.59 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s dividend payout ratio is presently 43.93%.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Citigroup upped their price target on shares of General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada upped their price target on shares of General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.62.

Read Our Latest Research Report on General Dynamics

About General Dynamics

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.