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Top Stocks To Buy For 2023? 2 Defense Stocks To Know

Should investors add these defense stocks to their 2023 watchlist?

Defense stocks are a popular choice among investors looking for long-term returns. The defense industry is one of the most consistent sectors in the stock market. As a result, many investors see it as a safe bet for their portfolios. For the uninitiated, defense stocks refer to companies that focus on providing products and services related to national security or military operations.

This includes arms manufacturers, aerospace companies, shipbuilders, and contractors who provide support services to governments and militaries around the world. Companies like Lockheed Martin (NYSE: LMT), General Dynamics (NYSE: GD), and Raytheon (NYSE: RTX) are some of the largest players in the defense industry.

One of the main reasons why investors choose to invest in defense stocks is that they tend to be relatively stable when compared to other industries. This is because governments around the world typically have a consistent demand for defense products and services regardless of economic conditions. This means that revenues from these companies are generally more reliable than those from other sectors, making them ideal for long-term investments. Furthermore, many defense companies also have large dividend yields which can help boost returns over time. With this in mind, here are two defense stocks to watch in the stock market today.

Defense Stocks To Watch Right Now

Boeing Company (BA Stock)

Kicking off, The Boeing Company (BA) is one of the world’s leading aerospace companies. The company designs and manufactures some of the most advanced aircraft in the industry. From commercial airliners to military defense systems. The company works with countless airlines and government agencies to provide the best services across a wide range of aviation fields.

Back in October, The Boeing Company reported its third-quarter 2022 financial results. Specifically, the company reported a loss of $6.18 per share along with revenue of $16.0 billion for Q3 2022. Additionally, Boeing also reported that it has resumed the delivery of its 787 aircraft. The company reported it delivered 9 for the third quarter of 2022. Moreover, Boeing reported a total backlog amounting to $381 billion, which results in more than 4,300 commercial airplanes.

Over the last six months of trading action, shares of The Boeing Company have recovered by 35.81%. As of Thursday, BA stock is trading slightly lower by 0.19% at $188.03 a share.

Source: TD Ameritrade TOS

[Read More] 3 Semiconductor Stocks To Watch Before 2023

Northrop Grumman (NOC Stock)

Last but not least, Northrop Grumman (NOC) is a global aerospace and defense technology company, based in the United States. They specialize in advanced products and capabilities in the areas of autonomous systems, cyber security, advanced manufacturing, space missions, and more.

This month, Northrop Grumman announced that it will release its 4th quarter of 2022 financial results. In detail, the company said it will post its Q4 2022 financial results on January 26, 2023, before the market opens. To briefly recap, in the third quarter of 2022 the company reported earnings of $5.89 per share, along with revenue of $9.0 billion.

Year-to-date, shares of NOC stock are up by 40.88%, which outperforms the broader markets so far in 2022. Additionally, on Thursday, NOC stock advanced by 0.51% on the day, currently trading at $543.15 a share.

Source: TD Ameritrade TOS

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By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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