In a predictably grim phenomenon tied to outbreaks of global violence, aerospace and defense stocks climbed to record prices in an otherwise down day for the stock market, as Wall Street reacted to the latest escalation in the Middle East by anticipating larger contracts for military suppliers.
What the shares need for further gains.
LMT secures a $3.23 billion contract for the procurement of JASSM and LRASM.
The essence of the "wide moat" investment theme is when businesses possess durable competitive advantages - dubbed moats - that shield them from competitors.
LMT secures a $42 million contract to provide Hellfire II Missiles and JAGM for the U.S. Army.
Recently, Zacks.com users have been paying close attention to Lockheed (LMT). This makes it worthwhile to examine what the stock has in store.
Defense stocks to keep on watch in the stock market today.
The stock's valuation reflects a positive outlook on its growth prospects. The defense sector offers investors a steady, reliable stream of income.
NASA picks LMT to develop and build the GeoXO Lightning Mapper instruments for NOAA.
In the most recent trading session, Lockheed Martin (LMT) closed at $565.18, indicating a -0.05% shift from the previous trading day.
Investors interested in LMT should refrain from buying the stock right now, considering its premium valuation. However, its upbeat estimates and strong backlog remain major growth catalysts.
LMT is set to procure sustainment spares and provide repair support of aircraft components for the VH-92A helicopter.