by winston » Thu Dec 31, 2020 12:18 pm
not vested
Lockheed Martin
This is one of the top aerospace and defense stocks to buy, and many on Wall Street are expecting a very solid continuation of U.S. and foreign defense spending in 2021.
Lockheed Martin Corp. (NYSE: LMT) researches, designs, develops, manufactures, integrates, operates and sustains advanced technology systems, products and services. It also provides a wide range of defense electronics products and IT services.
Being the Pentagon’s prime contractor, Lockheed Martin offers a diverse portfolio of global aerospace, defense, security and advanced technologies. Its leveraged presence in the Army, Air Force, Navy and IT programs guarantees a steady inflow of follow-on orders, not only from the U.S. government but also from many foreign allies of the nation.
Over the past several years, Lockheed Martin’s backlog has substantially outgrown the rest of the industry, supporting the growth outlook for the foreseeable future. The company has exposure to U.S. Department of Defense priority buckets and consistently executes well.
Even if the end-market growth rate slows, many on Wall Street expect continued strong fundamentals, with compounding earnings and cash flows.
Investors receive a 2.94% dividend. The BofA Securities price objective is a stunning $500. The consensus target is $436. Lockheed Martin stock closed most recently at $353.90.
Source: 24/7 Wall Street
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