10 Best Aerospace and Defense Stocks to Buy According to Billionaires

7. Lockheed Martin Corporation (NYSE:LMT)

Number of Billionaire Investors: 19

Lockheed Martin Corporation (NYSE:LMT) is among the 10 Best Aerospace and Defense Stocks to Buy According to Billionaires. On March 18, Susquehanna analyst Charles Minervino lifted the price target on the stock to $740 from $725, while maintaining a Positive rating.

The firm said it had adjusted the defense contractor’s model, factoring in its industry positioning as global geopolitical conflicts intensify. Susquehanna remains optimistic about the company’s growth potential in the medium-term, given its strong backlog of orders and programs to enhance production capacity.

As of the close of business on March 20, Wall Street analysts have a Hold rating on Lockheed Martin Corporation (NYSE:LMT), with an average share price upside potential of 7%.

In other news, the company recently marked a significant milestone in advancing the U.S. military’s capabilities to tackle moving maritime targets with the Precision Strike Missile (PrSM) Increment 2, achieving key test objectives on its first test flight. The missile was launched from a HIMARS and covered a distance of 350 kilometers.

Lockheed Martin Corporation (NYSE:LMT) is one of the world’s largest defense contractors. It specializes in the research, design, and development of advanced technology systems, products, and services. The company has produced several iconic military aircraft for the past several decades, including the world’s most dominant fifth-generation fighter jet, the F-35.