These 5 Companies Just Cut Their Guidance

1. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 56

Lockheed Martin Corporation (NYSE:LMT) is a Maryland-based security and aerospace company. On July 19, Lockheed Martin Corporation (NYSE:LMT) lowered its full-year guidance after the company failed to meet Q2 consensus estimates for earnings per share and revenue. The company cited F-35 fighter jet sales dropping in the midst of pandemic-driven headwinds as the reason for missing Q2 Street estimates. Lockheed Martin Corporation (NYSE:LMT) slashed FY 2022 EPS guidance to $21.55 from its earlier estimate of $26.70 and sales guidance to $65.25 billion from the last guidance of $66 billion.

Among the hedge funds tracked by Insider Monkey, Lockheed Martin Corporation (NYSE:LMT) was part of 56 public hedge fund portfolios at the end of March 2022, up from 42 funds in the previous quarter. Rajiv Jain’s GQG Partners is a significant position holder in the company, with 1.7 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.”

You can also take a look at Analyst Are Cutting Estimates on These 10 Tech Stocks and 10 Hedge Funds That the Economic Recession is Crushing. 

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