Back in April, I argued that with Lockheed Martin (NYSE:LMT) having fallen significantly in price, this could mark a significant opportunity to get in on the stock at an attractive discount.
Fast forward to today, and we see that the stock has fallen a bit further to $308 at the time of writing:
Indeed, many readers of my last article voiced their opinion that while they agree this stock is trading at a discount, they would not necessarily buy until we hit the $300 mark. Given that we’re very close to this, is there a case for buying the dip at this point?
From a business standpoint, Lockheed Martin has continued to see earnings growth as a result of continued demand for the F-35, along with the company continuing to secure contracts with major customers such as NASA. While there was initial apprehension that Europe would seek to replace the F-35 with a European-made competitor, major European countries such as Germany have continued to see strong demand for the F-35. All in all, Lockheed Martin is continuing to thrive in spite of waning geopolitical tensions.
