Rising geopolitical risks have made the defense industry a safe harbor during this bear market. While several nations eye bigger defense budgets and hard spending targets amid the war in Ukraine. We think it could be wise to scoop up the shares of fundamentally sound defense stocks Lockheed Martin Corporation (LMT), Textron Inc. (TXT), and MSA Safety Incorporated (MSA) to safeguard your portfolios with substantial returns.
With the Russia-Ukraine conflict causing increased geopolitical tensions, several countries increased their defense spending. Amid the persistent threat of terrorism, NATO Secretary-General Jens Stoltenberg urged the 30 member countries to commit to spending at least 2% of their Gross Domestic Product (GDP) on defense.
