5 Best Space Stocks to Buy According to Hedge Funds

4. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 55

Lockheed Martin Corporation (NYSE:LMT) is an American defense and aerospace company. It is one of the oldest space companies in the world and has its roots in the X-17 program of the 1950s which aimed to test rocket reentry and propulsion.

Lockheed Martin Corporation (NYSE:LMT)’s space division sees the firm manufacture a host of different spacecraft, satellites, and missile systems. The firm built the external tank for NASA’s space shuttle, the Hubble telescope, and four Mars landers and reconnaissance satellites.

Lockheed Martin Corporation (NYSE:LMT) is also the primary manufacturer of NASA’s Orion spacecraft, and the firm is also responsible for manufacturing the latest versions of the Global Positioning Satellites (GPS) for the United States Military. As this year’s second quarter ended, 55 out of the 895 hedge funds polled by Insider Monkey had held a stake in the company.

Lockheed Martin Corporation (NYSE:LMT)’s largest investor is Rajiv Jain’s GQG Partners which owns two million shares that are worth $877 million.

Vitava Fund mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

“LMT is one of the world’s largest aerospace and defence companies. The war in Ukraine has reminded investors and the wider public just how important these companies are. The aerospace and defence industry in the USA is an established oligopoly. This means that a few large firms play a dominant role. While collectively they comprise an oligopoly, individually they often have monopoly positions in particular narrower segments. Their main counterparty is the US government, a key customer in what is known as a monopsonist position. This is a rather unusual situation, but one that is very advantageous for companies such as LMT.