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Lockheed Martin shares edge up amid broader market gains

Published Nov 16, 2023 04:46
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NEW YORK - Lockheed Martin Corp. (NYSE:LMT) saw a modest increase in its stock price on Wednesday, rising by 0.21% to close at $445.14. The uptick occurred during a session where broader market indices also experienced growth, with the S&P 500 Index (SPX) and Dow Jones Industrial Average (DJIA) climbing 0.16% and 0.47%, respectively.

Despite the positive momentum, Lockheed Martin's shares are still trailing their 52-week high by $62.96, a peak reached on April 18th. The defense contractor's stock movement was part of a mixed day for industry competitors; RTX Corp.'s (NYSE:RTX) stocks dipped by 0.07%, while Boeing Co . (NYSE:NYSE:BA) enjoyed a rise of 0.60%. In contrast, Northrop Grumman Corp (NYSE:NYSE:NOC) saw its shares decline by 0.39%.

Additionally, trading activity for Lockheed Martin was lower than usual, falling short of the average trading volume by about 361,027 shares.

The defense sector's performance often reflects broader economic trends and geopolitical developments, making Lockheed Martin's stock movements a point of interest for investors tracking stability and growth in this industry segment.

InvestingPro Insights

According to InvestingPro, Lockheed Martin Corp. is a prominent player in the Aerospace & Defense industry, yielding a high return on invested capital and maintaining dividend payments for 40 consecutive years. These InvestingPro Tips suggest a strong financial position and a commitment to shareholder value.

InvestingPro's real-time data provides further insights. With a market capitalization of $110.44 billion and a P/E ratio of 16.23 as of Q3 2023, Lockheed Martin's valuation is reasonable relative to its earnings. Revenue growth over the last twelve months as of Q3 2023 was 4.58%, indicating steady top-line performance.

InvestingPro's platform offers many more tips and real-time data points for investors seeking a deeper understanding of Lockheed Martin and other companies. It's a valuable tool for informed decision-making in the dynamic world of investing.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Lockheed Martin shares edge up amid broader market gains
 

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