Missiles Are Hot. That’s Good for Lockheed Martin Stock.

The U.S. has fired a lot of missiles lately, leaving the Defense Department motivated to quickly replace and grow its missile stocks. “When you add the $54 billion dollars in this contract modification, you’re pushing $300 billion dollars of backlog for the company,” said CEO Jim Taiclet on Fox Business. Lockheed is tripling production of its PAC-3 missiles.