Defense stocks are sitting near all-time highs and investors are asking, is it too late to get in?
One look at the front page of any newspaper and it's easy to see why the defense rally has legs. Syria, ISIS, North Korea and cyberwarfare all point to a secular tail wind for the industry that isn't likely to end soon.
Six years ago when the current administration ushered in an era of reduced military budgets investors feared the worst. Trailing five-year and one-year performance charts tell a different story. Northrop has been the clear winner, up 214 percent since 2010 with Lockheed close behind.