Short Interest in General Dynamics Co. (GD) Expands By 59.4%

General Dynamics Co. (NYSE:GD) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,463,093 shares, a growth of 59.4% from the January 12th total of 2,173,101 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average trading volume of 2,046,337 shares, the days-to-cover ratio is currently 1.7 days.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP boosted its position in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the last quarter. Linscomb & Williams Inc. boosted its position in General Dynamics by 7.7% in the second quarter. Linscomb & Williams Inc. now owns 1,613 shares of the aerospace company’s stock valued at $320,000 after buying an additional 116 shares during the last quarter. Cetera Investment Advisers boosted its position in General Dynamics by 5.1% in the second quarter. Cetera Investment Advisers now owns 2,572 shares of the aerospace company’s stock valued at $511,000 after buying an additional 125 shares during the last quarter. Gofen & Glossberg LLC IL boosted its position in General Dynamics by 5.6% in the second quarter. Gofen & Glossberg LLC IL now owns 3,800 shares of the aerospace company’s stock valued at $753,000 after buying an additional 200 shares during the last quarter. Finally, Stonebridge Capital Management Inc. boosted its position in General Dynamics by 0.7% in the fourth quarter. Stonebridge Capital Management Inc. now owns 32,173 shares of the aerospace company’s stock valued at $6,776,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 87.03% of the company’s stock.

Several analysts recently weighed in on GD shares. Cowen restated a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 19th. Stifel Nicolaus boosted their target price on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Credit Suisse Group reiterated an “outperform” rating and issued a $238.00 target price (up from $216.00) on shares of General Dynamics in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a report on Thursday, October 26th. Finally, Jefferies Group reiterated a “buy” rating and issued a $236.00 target price on shares of General Dynamics in a report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $232.09.

Shares of General Dynamics (NYSE GD) opened at $211.81 on Wednesday. General Dynamics has a 52 week low of $183.72 and a 52 week high of $229.54. The firm has a market capitalization of $63,240.00, a PE ratio of 22.09, a PEG ratio of 2.25 and a beta of 0.85. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. research analysts forecast that General Dynamics will post 11.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 19th were given a $0.84 dividend. The ex-dividend date was Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a yield of 1.59%. General Dynamics’s dividend payout ratio is currently 35.04%.

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About General Dynamics

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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