Stocks ticked lower this morning, hot on the heels of two-straight days of solid gains. In yesterday’s session, the Nasdaq Composite jumped 3.3%, the Dow advanced 2.8%, and the S&P 500 gained 3.1% for its strongest two-day stretch since 2020.
After declining sharply last quarter, some may be calling a bottom for the market, but an increasing number of Wall Street pros predict the rout will continue in the face of looming recession concerns. Our featured stock of the day is a reasonably priced, recession-resistant stock offering a reliable payout.
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It should be no surprise that the defense giant Lockheed Martin (LMT) has outperformed the market this year. There are obvious geopolitical implications with the war in Ukraine. When Russia decided to invade its neighbor, both U.S. and European forces rushed in to help Ukraine. It may be some time before LMT stock pops again, as it did at the onset of Russia’s invasion of Ukraine. However, its order books are likely to improve due to rising defense budgets in the U.S. and abroad. Along with Lockheed providing support to Ukrainian resistance fighters, the looming uncertainties in Russia could lead to massive economic problems and gaps in power in the former Soviet Union-controlled areas.
Given the recession-proof nature of defense contracting, Lockheed Martin should continue reporting positive results and rewarding shareholders through its quarterly 2.7% forward yield. In other words, even if the market dives again, LMT will likely stand firm. The stocks runs a P/E ratio of 23.5 times, below the sector median of 28.3 times. As well, LMT features excellent longer-term growth and profitability metrics.
Should you invest in Lockheed Martin right now?
Before you consider buying Lockheed Martin, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Lockheed Martin.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
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