Why Lockheed Martin Trailed the Market in 2023

Shares in defense giant Lockheed Martin (LMT -0.20%) declined 6.8% last year, according to data provided by S&P Global Market Intelligence. It's a notable underperformance compared to the S&P 500's 24.2% gain on the year and reflects that the company entered 2024 with much more uncertainty than it entered 2023.How Lockheed Martin entered 2023On the face of it, Lockheed Martin's outlook hasn't changed much. Management started 2023 forecasting full-year sales of $65 billion to $66 billion, segment operating p ...