10 Best Low Beta Stocks To Buy

6. General Dynamics Corporation (NYSE:GD)

5-year Beta (monthly): 0.61

Number of Hedge Fund Holders: 48

General Dynamics Corporation (NYSE:GD) is a prominent American aerospace and defense corporation headquartered in Reston, Virginia. It is one of the largest defense contractors in the world.

Its product portfolio includes advanced military and civilian aircraft, submarines, and armored vehicles, featuring items such as Gulfstream business jets, Virginia and Columbia-class nuclear-powered submarines, Arleigh Burke-class guided-missile destroyers, M1 Abrams tanks, and Stryker armored fighting vehicles.

General Dynamics (NYSE:GD) was a part of 48 hedge fund portfolios in Q2, at a combined value of $9.114 billion. As of the second quarter, Longview Asset Management owns 28.1 million shares of the company, worth $8.152 billion, making it the company’s most significant shareholder.

In 2024, General Dynamics (NYSE:GD) has been actively involved in significant partnerships and contracts that highlight its ongoing focus on innovation and collaboration within the defense sector. In August, the company announced a partnership with Lockheed Martin for the manufacturing of solid rocket motors, improving its capabilities in missile technology.

The company was awarded several contracts in September, starting with a $491.6 million contract from the Space Development Agency to undertake design, analysis, engineering studies, and technical support for the Ground Management and Integration program’s integrated ground system.

On September 12, General Dynamics (NYSE:GD) received a $99 million cost-plus-fixed-fee contract to provide engineering, technical support, design agent services, and planning yard assistance for operational strategic and attack submarines.

Later on September 13, The Fly reported that it secured a block-buy contract from the U.S. Navy for the construction of up to eight additional John Lewis-class fleet replenishment oilers. The initial ship under this contract has been awarded for $780 million. If all eight ships are built, the total contract value, including incentives and other options, could exceed $6.7 billion.

Moreover, The Fly reported two additional government and army contracts for the company worth $299 million and $103.62 million.