General Dynamics Corporation (GD) Hedge Funds Are Snapping Up

As aggregate interest increased, specific money managers have jumped into General Dynamics Corporation (NYSE:GD) headfirst. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, established the biggest position in General Dynamics Corporation (NYSE:GD). Arrowstreet Capital had $40.4 million invested in the company at the end of the quarter. Lawrence Sapanski’s Scoria Capital also initiated a $27.6 million position during the quarter. The following funds were also among the new General Dynamics Corporation (NYSE:GD) investors: Steve Cohen’s Point72 Asset Management, Matthew Tewksbury’s Stevens Capital Management, and Alec Litowitz and Ross Laser’s Magnetar Capital.

Let’s also examine hedge fund activity in other stocks similar to General Dynamics Corporation (NYSE:GD). These stocks are NextEra Energy, Inc. (NYSE:NEE), Infosys Ltd ADR (NYSE:INFY), Netflix, Inc. (NASDAQ:NFLX), and E I Du Pont De Nemours And Co (NYSE:DD). All of these stocks’ market caps are closest to General Dynamics Corporation (NYSE:GD)’s market cap.

As you can see, these stocks had an average of 40 hedge funds with bullish positions and the average amount invested in these stocks was $3.01 billion. That figure was $6.05 billion in General Dynamics Corporation (NYSE:GD)’s case. Netflix, Inc. (NASDAQ:NFLX) is the most popular stock in this table. On the other hand, Infosys Ltd ADR (NYSE:INFY) is the least popular one with only 19 bullish hedge fund positions. General Dynamics Corporation (NYSE:GD) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Netflix, Inc. (NASDAQ:NFLX) might be a better candidate to consider a long position.