The stock market is facing a “wall of worry” due to the surge of inflation and the increasing risk of an upcoming recession. During such tumultuous periods, risk-averse investors look for stocks that are resilient to bear markets.
General Dynamics reported second-quarter results in which revenue increased 10.5% and earnings per share decreased 1.8% on lower margins. Aerospace revenue grew 4.6% on higher deliveries. Gulfstream demand has accelerated with a book-to-bill ratio of 1.3X. Just like General Dynamics, Lockheed Martin is an established military prime contractor. It has developed the expertise to modernize its platforms and thus the latter have a useful lifetime of decades.
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