LMT - Is Lockheed Martin a Foolproof Dividend Stock?
2023-07-31 08:45:00 ET
All the investment community seems to care about this year are big technology stocks and the artificial intelligence (AI) "revolution." It's hard to blame them when such stocks as Nvidia are up over 220% just in 2023. There seems to be a lot of FOMO (fear of missing out) right now on Wall Street as investors try to catch a ride on the AI hype train.
If you are a contrarian investor looking for safer, income-producing stocks, investing in AI may not be for you. Luckily, there are a lot of dividend growers whose share prices are actually down this year. Defense and aerospace contractor Lockheed Martin (NYSE: LMT) fits this definition to a T, with its shares down 6% year to date. This price dislocation provides investors with an opportunity to buy a dominant and growing business at a reasonable price.
Here's why Lockheed Martin can be a foolproof dividend stock in your portfolio for years to come.
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Is Lockheed Martin a Foolproof Dividend Stock?