Stifel & Nicolaus & Co., Inc., analyst Joseph DeNardi has a buy rating on Lockheed Martin Corporation (LMT). He says management teams of defense companies, by and large, understand that investors own their stocks for cash generation.
“Even though Lockheed made a pretty sizable acquisition, they said that they can continue to grow the dividend and repurchase stock,” DeNardi says.
Lockheed also announced the planned spinout or sale of their services business. DeNardi says he thinks management recognizes what they need to do to keep investors happy.
“Also, I think the international market is getting better in terms of demand signals, particularly the Middle East, Europe and Asia Pacific,” DeNardi says. “I think the demand in those markets is very strong, so I think that’s helping to offset a softer U.S. defense spending environment.”
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