5 Defense Stocks to Buy Amid Escalating Geopolitical Tensions

1. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 55

Lockheed Martin Corporation (NYSE:LMT) is surging in 2022. As of September 23, Lockheed Martin Corporation (NYSE:LMT) has gained 16.5% year to date and is offering a forward dividend yield of 2.67%, which the company supports with free cash flows of $7.45 billion.

Wall Street likes Lockheed Martin Corporation (NYSE:LMT). This July, Susquehanna analyst Charles Minervino reiterated his $539 price target and Positive rating on Lockheed Martin Corporation (NYSE:LMT). On August 29, RBC Capital analyst Ken Herbert started coverage of Lockheed Martin Corporation (NYSE:LMT) with a Sector Perform rating and a $460 price target.

On August 25, the U.S. State Department approved a Foreign Military Sale of $1.95 billion for 40 UH-60M Black Hawk Helicopters to the government of Australia. Lockheed Martin Corporation (NYSE:LMT) was named as the principal contractor for the deal. On August 29, Lockheed Martin Corporation (NYSE:LMT) announced that it has secured a $503 million contract from the U.S. Navy to deliver 12 MH-60R aircraft to Australia.

At the close of the second quarter of 2022, 55 hedge funds disclosed ownership of stakes in Lockheed Martin Corporation (NYSE:LMT) and held stakes worth $2.56 billion in the company. This is compared to 56 hedge funds in the previous quarter with stakes worth $2.44 billion.

As of June 30, GQG Partners owns more than 2 million shares of Lockheed Martin Corporation (NYSE:LMT) and is the top shareholder in the company.

You can also take a look at 15 Best Security Stocks to Buy Now and 10 Best Defense Stocks To Buy Now.

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