Why Lockheed Martin Stock Climbed Higher in March

Lockheed Martin (NYSE: LMT) shares underwhelmed in 2020, losing to the S&P 500 by more than 25 percentage points during the year. But investors warmed to the company in March, sending the shares up 11.9% for the month, according to data provided by S&P Global Market Intelligence.

Lockheed Martin is the world's largest defense contractor, and the company's shares underperformed in 2020 due to concerns that increased government pandemic spending, coupled with a new occupant in the White House, would mean a slowdown in Pentagon funding.

Image source: Lockheed Martin.

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Source Fool.com