5 Best Defense Stocks To Buy Now

In this article, we will discuss the 5 best defense stocks to buy now. If you want to explore similar stocks on this list, you can also take a look at the 13 Best Defense Stocks To Buy Now.

5. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 52

Lockheed Martin Corporation (NYSE:LMT), created through the merger of Lockheed Corporation and Martin Marietta in March 1995, is a global American corporation engaged in aerospace, arms, defense, information security, and technology. Its headquarters are located in North Bethesda, Maryland, in the Washington, D.C. region. The company is structured into four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The stock surged 9% following increased conflicts between Israel and Hamas earlier this October.

Lockheed Martin Corporation (NYSE:LMW) has been awarded a $379 million contract to manufacture eight Sikorsky MH-60R SEAHAWK helicopters in Owego. These helicopters are intended for the Spanish Navy (the Armada), which had previously procured 12 SH-60B aircraft between 1988 and 2001 and recently acquired eight retired SH-60F Seahawk helicopters from the U.S. Navy. The addition of these new helicopters, set to be delivered to Spain by 2027, will expand the operational MH-60R aircraft fleet globally, which includes the U.S. Navy, Australia, Denmark, Saudi Arabia, and India. Deliveries to Greece and South Korea are scheduled to commence in 2024.

According to Insider Monkey’s second quarter database, 52 hedge funds were long Lockheed Martin Corporation (NYSE:LMT), compared to 58 funds in the earlier quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 791,700 shares worth $364.4 million.