These Two Companies Just Won A Military Contract But Hedge Funds Only Like One Of Them

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Hedge funds were negative on Lockheed Martin Corporation (NYSE:LMT) in the second quarter, as the overall value of their investments in the firm’s stock decreased. While there were 36 hedge funds long on the stock at the end of June, seven more than at the end of March, their holdings decreased by nearly 15% to $1.13 billion, and represented just 1.90% of Lockheed Martin’s shares. This decrease is more than the 8.41% decline of the stock in the second quarter. First Eagle Investment Management owned 2.69 million shares of Lockheed Martin by the end of said period, down by 2% on the quarter.

Meanwhile, Boeing Co (NYSE:BA) was much more preferred by hedge funds than its fellow industrials giant. There were 44 hedge funds long on the stock by the end of June, down by six from the end of March, but the total holdings of those who still held long positions in the stock increased, pointing to increased confidence from those hedge funds. The investments of hedge funds we track in Boeing rose by 20.28% to $1.6 billion during the second quarter, in spite of the 7.57% decline of the stock’s value in the period. Hedge funds owned 1.70% of Boeing’s shares at the end of June. Adage Capital Management, led by Phill Gross and Robert Atchinson, owned 2.46 million Boeing shares, up by 163% quarter-over-quarter.

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