Short Interest in General Dynamics Co. (NYSE:GD) Declines By 16.0%

General Dynamics Co. (NYSE:GD) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,570,000 shares, a decline of 16.0% from the February 28th total of 3,060,000 shares. Based on an average daily trading volume, of 1,710,000 shares, the short-interest ratio is currently 1.5 days. Currently, 1.0% of the shares of the company are sold short.

Insider Activity

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently modified their holdings of GD. MassMutual Private Wealth & Trust FSB increased its holdings in General Dynamics by 145.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 29,799 shares of the aerospace company’s stock worth $8,123,000 after buying an additional 17,683 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in General Dynamics by 35.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 209,893 shares of the aerospace company’s stock valued at $55,305,000 after acquiring an additional 54,996 shares during the last quarter. Copia Wealth Management purchased a new position in General Dynamics during the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in General Dynamics during the fourth quarter valued at $78,000. Finally, Copley Financial Group Inc. lifted its holdings in shares of General Dynamics by 10,664.7% in the 4th quarter. Copley Financial Group Inc. now owns 1,830 shares of the aerospace company’s stock valued at $482,000 after acquiring an additional 1,813 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and cut their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $298.59.

General Dynamics Stock Down 2.4 %

NYSE:GD traded down $6.66 on Thursday, hitting $269.39. The stock had a trading volume of 970,535 shares, compared to its average volume of 1,314,663. The company has a market cap of $72.83 billion, a PE ratio of 19.74, a P/E/G ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 52 week low of $239.87 and a 52 week high of $316.90. The business’s fifty day moving average is $259.05 and its 200 day moving average is $276.19.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, equities research analysts expect that General Dynamics will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its board has authorized a stock repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.23%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is currently 43.99%.

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.