#1 - Lockheed Martin (NYSE:LMT)
As you would expect in the current geopolitical situation, Russia’s war on Ukraine will continue to be a catalyst for defense spending in 2023. Lockheed Martin Corporation (NYSE: LMT) manufactures the Javelin anti-tank missiles which continue to be delivered to Ukraine.
And investors would expect the contractor to benefit from the National Defense Authorization Act. However, the Republican-controlled House of Representatives is eyeing the federal budget and the U.S. aid to Ukraine among the $75 billion it wants to cut from the defense budget. That may not go anywhere, but it could be a headwind for the stock.
As of January 13, 2023, the stock was testing a level of support at around $447. If it fails to hold that level, investors could be looking at a range of $430-$432 for the stock. But if support holds, there’s reason to believe that LMT stock could post a new all-time high as it did late in 2022.
But long-term investors will benefit from a reliable dividend that currently yields 2.68% and has been growing for 20 years.
About Lockheed Martin
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.
Read More - Current Price
- $468.39
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $485.40 (3.6% Upside)
