Should You Buy Lockheed Martin Stock Right Now?

With $75 billion in annual revenue, defense contractor Lockheed Martin (NYSE: LMT) is literally the world's largest pure-play defense stock. And now it's time to watch Lockheed Martin get even bigger.

This week, Reuters reported that the government of Greece is preparing to spend massively to upgrade its military after watching neighboring Cyprus suffer multiple attacks from Iranian drones and ballistic missiles. Total spending on the defense program could exceed 4 billion euros (about $4.6 billion). At least 1 billion of that -- $1.15 billion -- would go directly to Lockheed Martin to pay for upgrading 38 F-16C fighter jets into the modern F-16 Vipers. 

The F-16 Viper (aka F-16V) boasts improved bomb load, better radar, better computers, and -- importantly -- the ability to integrate its data feeds with fifth-generation fighters such as Lockheed's own F-35 Lightning II. To date, Greece has ordered 20 F-35s from Lockheed, with options to buy 20 more.

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Source Fool.com