5 Best Drone Stocks To Buy Now

3. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 42

Lockheed Martin Corporation (NYSE:LMT) is a Maryland-based security and aerospace company that operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments. The company manufactures drones for intelligence, surveillance, and reconnaissance applications. On April 19, Lockheed Martin Corporation (NYSE:LMT) posted its Q1 results, announcing earnings per share of $6.44, topping analysts’ predictions by $0.26. 

On April 20, Lockheed Martin Corporation (NYSE:LMT) declared a $2.80 per share quarterly dividend, in line with previous. The dividend is payable on June 24, to shareholders of record on June 1. Lockheed Martin Corporation (NYSE:LMT)’s dividend yield on May 16 came in at 2.57%. 

Argus analyst John Eade on April 20 maintained a Buy recommendation on Lockheed Martin Corporation (NYSE:LMT) and raised the price target on the shares to $500 from $415. As per the analyst, Lockheed Martin Corporation (NYSE:LMT) has consistently delivered positive performance and financial results, regardless of the defense spending or which government resides in the White House. He further stated his “favorable view” of the company’s focus on international revenue diversification and expects the continuing geopolitical tension to enhance Lockheed Martin Corporation (NYSE:LMT)’s sales and earnings in the future.

According to Insider Monkey’s Q4 data, 42 hedge funds were bullish on Lockheed Martin Corporation (NYSE:LMT), compared to 51 funds in the last quarter. In Q1 2022, Rajiv Jain’s GQG Partners owned a notable stake in Lockheed Martin Corporation (NYSE:LMT), consisting of 1.72 million shares worth $763.2 million. 

Here is what Vltava Fund has to say about Lockheed Martin Corporation (NYSE:LMT) in its Q4 2021 investor letter:

“Of course, not all of our companies are doing better than we expected. Lockheed Martin fell somewhat short of our expectations last year. In the cases of Lockheed disruptions in the supply and logistics chains. Lockheed uses a great many subcontractors from various countries and could not avoid issues with continuity of supplies. As a result, production will be slightly lower than we had expected.”