Why Lockheed Martin Stock Is Flying High Today
Defense-giant Lockheed Martin (NYSE: LMT) delivered quarterly results suggesting that the business, after a series of missteps, is back on track. Investors were pleased, sending the company's shares up as much as 5%.
Lockheed Martin investors had a tough time in 2021. The stock underperformed as the company worked its way through a period of transition. Many more mature programs aged off the books and new, potentially promising programs are still in the pre-revenue stages.
We said back then that Lockheed would likely focus on returning cash to shareholders during the lull. On Tuesday, the company came through with solid results and plans to boost its return to investors.
Source Fool.com
