Billionaire Investors Are Betting Big On These Defense Stocks

Elite fund managers were very bullish on Spirit AeroSystems Holdings, Inc. (NYSE:SPR) as well. David E Shaw’s fund, D E Shaw, boosted its stake in the company by 17% to 3.05 million shares, while Israel Englander’s Millennium Management reported a massive 284% increase in its latest 13F filing. The fund reportedly held 1.29 million shares of Spirit AeroSystems at the end of the third quarter. Overall, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) registered a boost in popularity among billionaire fund managers, with 9 of them holding the stock at the end of September, up from 6 a quarter before.

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has recently reported fourth-quarter financial results that exceeded market’s expectations. The company reported adjusted earnings of $1.32 per share and $1.71 billion in revenue, ahead of analysts’ forecasts of $1.22 per share on the back of $1.65 billion in revenue. Market participants were not impressed by the company’s forward guidance, though, which sent the shares tumbling.

Billionaire Mason Hawkins is betting big on United Technologies Corporation (NYSE:UTX), which accounted for 6.77% of Southeastern Asset Management’s portfolio at the end of September. In its latest 13F filing, the fund reported ownership of 4.85 million shares of United Technologies. Andreas Halvorsen’s Viking Global initiated a fresh bet on United Technologies Corporation (NYSE:UTX), having acquired 4.18 million shares by the end of the third quarter. In general, 10 of the billionaire fund managers we follow were invested in this stock at the end of September, unchanged from the previous quarter.

United Technologies Corporation (NYSE:UTX) is one of the major industrial companies that will benefit a lot from the new tax system. Up until now the company had been repatriating approximately $1 billion in funds from overseas, but with the new tax rates in place, it plans to increase that amount to roughly $3 billion. United Technologies plans to use these funds mainly for the repayment of the debt related to the acquisition of Rockwell Collins.

Disclosure: none.