5 Most Undervalued Defense Stocks To Buy According To Hedge Funds

4. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders: 46

Virginia-based General Dynamics Corporation (NYSE:GD) is among the world’s largest defense contractors in terms of arms sales. General Dynamics Corporation (NYSE:GD)’s GAAP EPS came in at $3.58 during the fourth quarter, missing estimates by $0.04. Revenue in the quarter increased by about 5.9% on a YoY basis to reach $10.9 billion, beating estimates by $240 million. Net cash provided by operating activities in the period came in at $669 million.

General Dynamics Corporation (NYSE:GD) recently won a contract worth about $481.58 million for the sustainment of Prophet Enhanced detecting systems.

At the end of the last quarter of 2022, 46 hedge funds out of the 943 funds tracked by Insider Monkey had stakes in General Dynamics Corporation (NYSE:GD). The total value of these stakes was about $8.2 billion. The biggest stakeholder of General Dynamics Corporation (NYSE:GD) in this period was James A. Star’s Longview Asset Management. The fund owns a whopping 28.3 million shares of the defense company.