Lockheed Martin Stock, IBD Stock Of The Day, Setting Up As A Defensive Play?
, 2022-12-28 18:03:00,
Lockheed Martin
Lockheed Martin
LMT
$0.30
0.06%
54%
IBD Stock Analysis
- Technically in buy zone from old consolidation, but working on flat base
- Finding support at 21-day and 10-week lines; 491.55 offers early entry
- Analysts see 20% EPS growth in 2023
Industry Group Ranking
Emerging Pattern
Flat Base
* Not real-time data. All data shown was captured at
12:52PM EST on
12/28/2022.
Lockheed Martin (LMT) is Wednesday’s IBD Stock Of The Day, as the defense contractor looks to capitalize on federal contract money, which have it on pace for solid profit growth in 2023. Lockheed Martin stock was little changed Wednesday.
X
The Bethesda, Md.-based defense contractor is best known for making the F-22 and F-35 fighter jets. The company also produces an arsenal of helicopters, carriers, ships, drones, missiles, surveillance and defense systems, and armored and commercial vehicles. Lockheed Martin has operations in the U.S. and 6o other countries.
Lockheed Martin strung together a run of three straight quarters in which it topped earnings views before it missed with Q2 results in July. However, the company topped estimates once more in October. Lockheed Martin saw EPS balloon 210% to $6.87. The company slightly missed with revenue, posting $16.58 billion, a 3.5% gain vs. last year.
Defense stocks — including Lockheed Martin stock, Northrop Grumman (NOC), General Dynamics (GD) and others — had…
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