General Dynamics Corporation (GD) Lands $219M US Army Contract: Is It A Buy?

In terms of insider sentiment, Executive Vice President Joseph Lombardo sold 87,630 shares at the beginning of May. By the end of the same month, Vice President Larry Flynn sold 57,340 shares in two transactions. Insider Monkey also looks into insider sentiment since this can indicate whether insiders are also betting on their own companies.

Keeping this in mind, let’s take a look at the fresh action about General Dynamics Corporation (NYSE:GD).

 How have hedgies been trading General Dynamics Corporation (NYSE:GD)?

Among the hedge funds tracked by Insider Monkey, General Dynamics was included in 45 equity portfolios at the end of March compared to 43 at the end of the previous quarter. The value of holdings of those funds increased to $6.76 billion in the first quarter from $6.33 billion a quarter earlier, a 6.71% increase that is worth pointing out since the stock declined 1.37% from January 2 to March 31.

According to Insider Monkey, Longview Asset Management, managed by James A. Star, holds the most valuable position in General Dynamics Corporation (NYSE:GD), worth $4.52 billion, which contains about 33.33 million shares, making up 97.7% of its 13F portfolio. Sitting on the second spot is Citadel Investment Group, managed by Ken Griffin, which held a $301.1 million position with 2.22 million shares. Other hedge funds that are bullish include David E. Shaw’s D.E. Shaw & Co., L.P., Cliff Asness’s AQR Capital Management and Zach Schreiber’s Point State Capital.

With heavyweights betting on the firm, key hedge funds have jumped in General Dynamics Corporation (NYSE:GD) headfirst. Scopus Asset Management, managed by Alexander Mitchell, initiated the most valuable position in General Dynamics Corporation (NYSE:GD) among the funds we track. Scopus Asset Management had a $43 million stake with 317,000 shares at the end of the quarter, while Steve Cohen’s Point72 Asset Management owns 306,700 shares worth $41.6 million investment. The other funds with new positions in the stock are Noam Gottesman’s GLG Partners, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Peter Muller’s PDT Partners.

The general bullishness both in terms of the number of hedge funds with long positions in the stock as well as the growth of the aggregate value of holdings by the end of the first quarter makes General Dynamics Corporation (NYSE:GD) appear to be a good buy at the moment based on our smart money indicators.

Disclosure: None