5 New Stock Picks of Billionaire Stanley Druckenmiller

2. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 51      

Lockheed Martin Corporation (NYSE:LMT) operates as a security and aerospace firm. Druckenmiller purchased a new stake in the company between October and December 2021. This stake consists of 14,450 shares worth $5.1 million, representing 0.18% of the portfolio. 

Lockheed Martin Corporation (NYSE:LMT) is one of the favorite security stocks in the US. Among the hedge funds being tracked by Insider Monkey, New York-based firm Millennium Management is a leading shareholder in Lockheed Martin Corporation (NYSE:LMT), with 561,512 shares worth more than $193 million. 

In its Q4 2020 investor letter, RiverPark Advisors, LLC, an asset management firm, highlighted a few stocks and Lockheed Martin Corporation (NYSE:LMT) was one of them. Here is what the fund said:

“Despite better-than-expected third quarter results, LMT shares were weak for the quarter as defense spending is expected to be flat for the coming year. With a record $150 billion backlog and almost 30% of its revenue coming from building F-35 aircraft with deliveries forecast to reach 180 per year in 4-5 years (3Q’s revenue upside was from the F-35), we believe LMT should grow at a higher rate than overall defense budget growth and Street expectations over the next several years. Further, strategic acquisitions (LMT acquired AJRD for $4 billion in late December), debt pay down, a 3% dividend yield, and continued share buybacks from $6 billion per year of free cash flow should lead to even greater shareholder returns.”