LMT - This Rock-Solid Defense Stock Just Raised Its Dividend to a Record High
2023-11-07 09:45:00 ET
The war in Ukraine and escalating tensions in the Middle East have contributed to heightened interest in defense stocks . Like oil stocks, these can be a hedge against geopolitical conflict. But while military spending and energy security are top of mind, it's not a good idea to jump in and out of defense stocks.
A better approach is to find quality businesses that generate stable earnings from the U.S. government, secure valuable long-term contracts, and have healthy backlogs that can support future business. Lockheed Martin (NYSE: LMT) checks all those boxes and then some. And it just raised its dividend to a record high.
Here's why it is a buy now.
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This Rock-Solid Defense Stock Just Raised Its Dividend to a Record High