10 Best Cybersecurity Stocks To Buy According To Hedge Funds

7. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Investors  in Q1 2024: 54

General Dynamics Corporation (NYSE:GD) might not be the first firm that crosses your list when you think about cybersecurity stock. But it is one, and an interesting one at that since it is a defense contractor. General Dynamics Corporation (NYSE:GD)’s business necessitates it to remain at the top of its cybersecurity game due to the mission critical nature of its industry. It provides hardware cybersecurity products such as encryptors and software products such as SaaS cybersecurity. Additionally, General Dynamics Corporation (NYSE:GD) is also hedged against the rapid fluctuations of the enterprise cybersecurity industry since its dealings also involve the US government which has to spend on defense no matter what the state of the economy is. Consequently, the shares are up 12% year to date. This has been evident throughout 2024, as General Dynamics Corporation (NYSE:GD) has won at least $743 million of cybersecurity contracts from the US Air Force and DHS. Within these deals, the largest is a $386 million Homeland Security contract. This contract is expected to run for three years, and it will help General Dynamics Corporation (NYSE:GD) to earn stable revenue in the near term future despite any economic headwinds.