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Lockheed Martin Stock Price Is Set to Sustain Rally in 2020

Lockheed Martin stock price

Lockheed Martin (NYSE: LMT) stock price has been rallying at a robust pace due to financial growth and strong cash returns for investors. In addition, the company’s massive backlog and new contract wins are adding to investor’s sentiments. Consequently, the market analysts are expecting the extension of upside momentum in fiscal 2020.

LMT shares soared close to 45% this year; Lockheed Martin stock price had recently hit an all-time high of $395. LMT shares are currently trading slightly below from the record level. Analysts anticipate its stock to trade above $400 mark in the coming days. The fourth-quarter results along with the outlook for 2020 could play a key role in strengthening sentiments.

LMT Lockheed Martin Corporation daily Stock Chart

Future Fundamentals Are Enhancing Confidence

The company appears in a solid position to extend the financial and share price momentum in 2020. This is because of its strong future fundamentals. The company had reported a record backlog of $137 billion at the end of the latest quarter. In addition, the new contract wins are adding to future fundamentals.

For instance, the Defense Department awarded a $7B contract modification to LMT for F-22 air vehicle sustainment. Additionally, the U.S. Navy announced a $1.96B contract to LMT for the detail design and construction of four Multi-Mission Surface Combatant ships for Saudi Arabia.

Lockheed Martin Stock Price...

The company expects to generate high mid-single-digit growth in revenues in fiscal 2020. The earnings per share are likely to increase at a double-digit rate. The company also appears strong enough to increase cash returns for investors.

Cash Returns Could Also Support Lockheed Martin Stock Price  

Lockheed Martin is among those companies that offer big cash returns to investors. Despite a sharp share price rally, the company has sustained its dividend yield of around 2.5%.

It has recently increased the quarterly dividend by 9.1%. This represents the 18th consecutive year of a dividend increase. Moreover, the company has also been returning billions of dollars in the form of share buybacks. In a nutshell, analysts consider Lockheed Martin among the best stocks for defensive investors.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.