Lockheed Martin (NYSE: LMT) ranks as the world's largest defense contractor, with a diversified collection of products ranging from fighter planes to space electronics and from helicopters to missile defense systems.

Headlines from around the world this year have served as a grim reminder of the need for these systems, and have cast a fresh spotlight on defense stocks. Yet Lockheed Martin shares are actually down year to date.

Here's a look at what's going on at Lockheed Martin, with an eye toward whether investors should buy in right now.

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Source Fool.com