Is Lockheed Martin (LMT) a Smart Long-Term Buy?


Old West Investment Management, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The fund’s All Cap portfolio was down 16.7%, its Small Cap portfolio was down 19.1%, and its three LP’s performed well on a relative basis. If you consider that all of its portfolios were up between 50 to 67% each of the two previous years, then the fund has limited its losses. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor mentioned letter, Old West Investment Management Lockheed Martin Corporation (NYSE:LMT) and explained its insights for the company. Founded in 1995, Lockheed Martin Corporation (NYSE:LMT) is a Bethesda, Maryland-based aerospace company with a $111.9 billion market capitalization. Lockheed Martin Corporation (NYSE:LMT) delivered a 18.76% return since the beginning of the year, while its 12-month returns are up by 22.63%. The stock closed at $422.08 per share on September 22, 2022.

Here is what Old West Investment Management has to say about Lockheed Martin Corporation (NYSE:LMT) in its Q2 2022 investor letter:

“As I sat in the theater watching Top Gun: Maverick, it gave me tremendous pride knowing we are shareholders of Lockheed Martin (NYSE: LMT). When the Top Gun: Maverick team was looking to push the envelope and stand true to Maverick’s need for speed, LMT’s Skunk Works was their first call. With Skunk Works expertise in developing the fastest known aircraft along with a passion for defining the future of aerospace, LMT is at the epicenter of our nation’s defense.

Based in Bethesda, Maryland, LMT is an American aerospace arms, defense, information security and technology company. LMT employs 115,000 people worldwide, including 60,000 engineers and scientists. LMT is the world’s largest defense contractor. They manufacture the F-16, F-22 and F-35 fighter jets, Sikorsky Black Hawk helicopters, Skunk Works technology, Javelin, Himars, and Tomahawk missile systems and much more…” (Click here to see the full text)

Mark Agnor/Shutterstock.com

Our calculations show that Lockheed Martin Corporation (NYSE:LMT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Lockheed Martin Corporation (NYSE:LMT) was in 55 hedge fund portfolios at the end of the second quarter of 2022, compared to 56 funds in the previous quarter. Lockheed Martin Corporation (NYSE:LMT) delivered a 2.79% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Lockheed Martin Corporation (NYSE:LMT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article was originally published at Insider Monkey.





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