Lockheed Martin is a premier aerospace and security company based in the US. It is famous for making best-in-class weapon systems like the THAAD air defense system, the Black Hawk helicopters, the C130 heavy lifting aircraft, and many other cutting-edge products. The company’s long track record and extensive network within government circles give it a competitive edge that few other defense companies have. It is among the top choices for investors looking to buy now aerospace stocks. The majority of Lockheed Martin employees are technologists, engineers, and scientists. Lockheed also ensures that it hires army veterans on a large scale. This kind of focus on human capital is another strength of the company. Recently, Lockheed Martin reported quarterly sales numbers of $17 billion. It is among the largest and most diverse defense businesses in the US.
Lockheed Reports Q22021 Earnings Numbers
Lockheed Martin reported its second-quarter 2021 earnings results on 26th July 2021. Net sales rose from $16.2 billion in Q22020 to $17 billion. Diluted earnings per share also grew from $5.79 in Q22020 to $6.52. Consolidated operating income went up from $2.08 billion in Q22020 to $2.19 billion. The company’s space segment saw the highest revenue growth. The segment’s revenue grew from $2.8 billion in Q22020 to $3.1 billion. The White House recently submitted its proposal to Congress for the budget earmarked for the Department of Defense. The amount is $715 billion, a growth of $11 billion. Lockheed Martin’s F-35 fighter aircraft program, its hypersonic weapons program, and its Sikorsky helicopter program all stand to benefit from the proposal if and when it is approved. Lockheed Martin is among the 2021 best aerospace stocks.
Lockheed Martin’s stock is down 6.98% for the preceding year when analyzed on 31st August 2021. On that day, the last traded price was $359.8 and the dividend yield was 2.89%. The stock had been on a steady downtrend over the preceding 6 months as well.