Bulletin
Investor Alert

Market Pulse Archives

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

Trump stokes rally in defense stocks toward record highs

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    iShares U.S. Aerospace & Defense ETF (ITA)
  • X
    Boeing Co. (BA)
  • X
    United Technologies Corp. (UTX)

or Cancel Already have a watchlist? Log In

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 +0.23% 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 +1.66% rallied 1%, of United Technologies Corp. /zigman2/quotes/203237915/composite UTX -0.40% tacked on 0.4%, of Lockheed Martin Corp. /zigman2/quotes/200691238/composite LMT +0.87% rose 1.5%, of General Dynamics Corp. /zigman2/quotes/208560027/composite GD +0.24% gained 0.5% and of Raytheon Co. /zigman2/quotes/203226062/composite RTN +0.44% 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 +0.09% , which shot up 3.4%. The only components not gaining were ManTech Interational Corp. /zigman2/quotes/207993719/composite MANT -0.28% , which was down 0.5%, and TransDigm Group Inc. /zigman2/quotes/203902625/composite TDG -0.18% , 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 -0.90% has rallied 11%.

/zigman2/quotes/207320401/composite
US : U.S.: Cboe BZX
$ 231.78
+0.54 +0.23%
Volume: 194,821
Jan. 24, 2020 4:10p
loading...
/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 323.05
+5.26 +1.66%
Volume: 17.80M
Jan. 24, 2020 6:30p
P/E Ratio
49.54
Dividend Yield
2.54%
Market Cap
$181.81 billion
Rev. per Employee
$660,961
loading...
/zigman2/quotes/203237915/composite
US : U.S.: NYSE
$ 153.19
-0.61 -0.40%
Volume: 3.70M
Jan. 24, 2020 6:30p
P/E Ratio
25.88
Dividend Yield
1.92%
Market Cap
$132.22 billion
Rev. per Employee
$277,021
loading...
/zigman2/quotes/200691238/composite
US : U.S.: NYSE
$ 432.50
+3.72 +0.87%
Volume: 1.09M
Jan. 24, 2020 6:30p
P/E Ratio
20.55
Dividend Yield
2.22%
Market Cap
$122.00 billion
Rev. per Employee
$512,019
loading...
/zigman2/quotes/208560027/composite
US : U.S.: NYSE
$ 185.07
+0.45 +0.24%
Volume: 925,535
Jan. 24, 2020 6:30p
P/E Ratio
16.04
Dividend Yield
2.20%
Market Cap
$53.54 billion
Rev. per Employee
$342,737
loading...
/zigman2/quotes/203226062/composite
US : U.S.: NYSE
$ 231.24
+1.01 +0.44%
Volume: 2.67M
Jan. 24, 2020 6:30p
P/E Ratio
19.79
Dividend Yield
1.63%
Market Cap
$64.40 billion
Rev. per Employee
$403,851
loading...
/zigman2/quotes/210055594/composite
US : U.S.: NYSE
$ 22.08
+0.02 +0.09%
Volume: 443,882
Jan. 24, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
0.72%
Market Cap
$1.11 billion
Rev. per Employee
$246,716
loading...
/zigman2/quotes/207993719/composite
US : U.S.: Nasdaq
$ 81.82
-0.23 -0.28%
Volume: 90,562
Jan. 24, 2020 4:00p
P/E Ratio
35.13
Dividend Yield
1.32%
Market Cap
$3.28 billion
Rev. per Employee
$251,097
loading...
/zigman2/quotes/203902625/composite
US : U.S.: NYSE
$ 656.73
-1.20 -0.18%
Volume: 393,386
Jan. 24, 2020 6:30p
P/E Ratio
47.45
Dividend Yield
0.00%
Market Cap
$35.17 billion
Rev. per Employee
$391,730
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,295.47
-30.07 -0.90%
Volume: 2.11B
Jan. 24, 2020 5:00p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.