Aerospace Giant Lockheed Martin Performs Poorly in Both Aero and Space

By now you've heard the news: Lockheed Martin (NYSE: LMT) reported its third-quarter earnings last week, and the stock is down 11% since that news came out. What you may not know is why Lockheed stock sank so quickly -- and so far.Lockheed Martin is the world's biggest pure-play defense stock, and a giant of the aerospace industry. The problem is that in Q3, it didn't perform particularly well in either aero... or space.Considering the warning I gave regarding defense stock valuations and Lockheed Martin's valuation in particular earlier this month, perhaps this shouldn't come as a surprise. With a sky-high 2.3 times enterprise value-to-sales valuation ahead of earnings, which was well above its historical average, Lockheed Martin stock was priced for perfection.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool