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Feb. 27, 2017, 11:06 a.m. EST

Trump stokes rally in defense stocks toward record highs

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By Tomi Kilgore

Shares of defense and aerospace companies got a nice lift Monday, after President Donald Trump said his first budget will seek a big boost in defense spending. The iShares U.S. Aerospace & Defense ETF /zigman2/quotes/207320401/composite ITA +2.05% climbed 1.1% toward a record high, with 37 of 39 components trading higher. Trump said he would seek $54 billion in extra spending on defense, to be offset by decreases elsewhere, which he didn't mention. Among the ETF's most heavily weighted components, shares of Boeing Co. /zigman2/quotes/208579720/composite BA +6.83% rallied 1%, of United Technologies Corp. tacked on 0.4%, of Lockheed Martin Corp. /zigman2/quotes/200691238/composite LMT +2.10% rose 1.5%, of General Dynamics Corp. /zigman2/quotes/208560027/composite GD +0.96% gained 0.5% and of Raytheon Co. tacked on 1.4%. Of those five stocks, only United Technologies' wasn't trading in record territory. The biggest gainer within the ETF was Triumph Group Inc.'s stock /zigman2/quotes/210055594/composite TGI +6.86% , which shot up 3.4%. The only components not gaining were ManTech Interational Corp. /zigman2/quotes/207993719/composite MANT +1.24% , which was down 0.5%, and TransDigm Group Inc. /zigman2/quotes/203902625/composite TDG +3.17% , which eased less than 0.1%. The sector ETF has now run up 17% since the election while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has rallied 11%.

/zigman2/quotes/207320401/composite
US : U.S.: Cboe BZX
$ 158.44
+3.19 +2.05%
Volume: 104,352
Sept. 25, 2020 4:00p
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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 156.03
+9.98 +6.83%
Volume: 29.12M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$88.07 billion
Rev. per Employee
$660,961
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/zigman2/quotes/200691238/composite
US : U.S.: NYSE
$ 386.70
+7.94 +2.10%
Volume: 1.38M
Sept. 25, 2020 4:03p
P/E Ratio
16.95
Dividend Yield
2.48%
Market Cap
$108.10 billion
Rev. per Employee
$512,019
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/zigman2/quotes/208560027/composite
US : U.S.: NYSE
$ 138.21
+1.31 +0.96%
Volume: 883,224
Sept. 25, 2020 4:00p
P/E Ratio
12.28
Dividend Yield
3.18%
Market Cap
$39.66 billion
Rev. per Employee
$342,737
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/zigman2/quotes/210055594/composite
US : U.S.: NYSE
$ 6.85
+0.44 +6.86%
Volume: 2.15M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$356.70 million
Rev. per Employee
$246,716
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/zigman2/quotes/207993719/composite
US : U.S.: Nasdaq
$ 69.57
+0.85 +1.24%
Volume: 161,857
Sept. 25, 2020 4:00p
P/E Ratio
22.12
Dividend Yield
1.84%
Market Cap
$2.81 billion
Rev. per Employee
$251,097
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/zigman2/quotes/203902625/composite
US : U.S.: NYSE
$ 494.78
+15.18 +3.17%
Volume: 266,579
Sept. 25, 2020 4:00p
P/E Ratio
44.49
Dividend Yield
0.00%
Market Cap
$26.82 billion
Rev. per Employee
$391,730
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 2.18B
Sept. 25, 2020 5:06p
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