NOC - 2 Dominant Defense Stocks to Buy in 2022 and Beyond
Very few people like the idea of military conflict, but it is a part of the world that happens. The defense sector exists because of this, with most countries focused on protecting themselves from outside aggression.
Spending here goes up and down over time, but the necessity of the outlay makes it a key part of most countries' spending plans. The United States has one of the largest defense budgets in the world. Investors should focus on the biggest names, which can handle the normal ups and downs in the sector. Two defense contractors that should be on your shortlist are Lockheed-Martin (NYSE: LMT) and Northrop Grumman (NYSE: NOC) . Here's why.
Although there are larger companies involved in the military industrial space, Lockheed Martin is really the biggest pure-play name you can buy. It has a huge $115 billion market cap and a fairly generous 2.5% dividend yield (the yield on the S&P 500 Index is a miserly 1.3% today). The dividend, meanwhile, has been increased annually for two decades.
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2 Dominant Defense Stocks to Buy in 2022 and Beyond