General Dynamics Co. (NYSE:GD) Sees Significant Increase in Short Interest

General Dynamics Co. (NYSE:GD) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,080,000 shares, a growth of 14.5% from the October 15th total of 2,690,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.1% of the shares of the company are sold short.

General Dynamics Stock Performance

Shares of NYSE:GD traded down $1.48 during midday trading on Monday, hitting $286.51. The company’s stock had a trading volume of 80,807 shares, compared to its average volume of 1,096,286. The stock has a market capitalization of $78.78 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.74 and a beta of 0.61. The stock’s 50 day simple moving average is $302.45 and its 200 day simple moving average is $296.34. General Dynamics has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

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

Analysts Set New Price Targets

Several research firms recently commented on GD. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada increased their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Sanford C. Bernstein decreased their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Transactions at General Dynamics

In other 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 transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Coston McIsaac & Partners grew its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 33 shares during the period. Global X Japan Co. Ltd. increased its holdings in shares of General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust raised its position in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC grew its position in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC raised its holdings in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares during the period. Institutional investors own 86.14% of the company’s stock.

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.