There was plenty to like about Lockheed Martin's (LMT +2.42%) earnings report on Oct. 22. The aerospace and defense manufacturer raised its full-year guidance for the second quarter in a row while beating Wall Street's third-quarter estimates. While the stock has risen more than 20% year to date as of this writing, Lockheed remains a solid buy for long-term investors.
$604.18+$14.27 (+2.42%)
NYSE · As of 4:00 PM ET 10/23/26
First and foremost, Lockheed's third-quarter sales grew 11% to $20.7 billion. Earnings per share beat analysts' expectations by nearly $0.50 at $7.97. All four of Lockheed's segments grew, with the Missiles and Fire Control business having the greatest gain, increasing 14% from this quarter last year.
Lockheed's management now expects sales to top $80 billion and free cash flow of $7.8 billion to $8 billion in 2026. The free cash flow number increased by $800 million from last quarter. Lockheed also increased its dividend again, marking 24 consecutive years of increases.
Image source: Getty Images.
The stock is really a buy because of the growth in backlog, which provides substantial revenue visibility. The backlog grew 27% to $292 billion this quarter. In particular, Lockheed signed multiyear deals for a PAC-3 interceptor and 850 F-35 jets.
Of course, Lockheed's success depends on its ability to execute efficiently and effectively, but for buy-and-hold investors, the backlog, rising guidance, and consistently growing dividend are excellent reasons to purchase the stock. Shares are still trading at a reasonable price. The company's forward and trailing price-to-earnings ratios are in the teens, and the dividend yield is respectable, currently around 2.5%.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lockheed Martin. The Motley Fool has a disclosure policy.
Brookstone Capital Management ve 3. čtvrtletí snížila počet akcií společnosti Lockheed Martin ve svém portfoliu o 4,1 % na 20 082 akcií v hodnotě 10,227 mil. USD.
Brookstone Capital Management reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,082 shares of the aerospace company’s stock after selling 852 shares during the quarter. Brookstone Capital Management’s holdings in Lockheed Martin were worth $10,227,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of LMT. SeaCrest Wealth Management LLC boosted its stake in Lockheed Martin by 2.9% in the third quarter. SeaCrest Wealth Management LLC now owns 1,621 shares of the aerospace company’s stock valued at $825,000 after acquiring an additional 46 shares during the last quarter. NBT Bank N.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $4,194,000. Isthmus Partners LLC raised its position in shares of Lockheed Martin by 0.6% during the 3rd quarter. Isthmus Partners LLC now owns 24,384 shares of the aerospace company’s stock valued at $12,418,000 after acquiring an additional 138 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of Lockheed Martin by 19.3% in the 3rd quarter. Precedent Wealth Partners LLC now owns 5,673 shares of the aerospace company’s stock valued at $2,889,000 after purchasing an additional 919 shares during the period. Finally, Smith Chas P & Associates PA Cpas lifted its stake in shares of Lockheed Martin by 0.8% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 88,708 shares of the aerospace company’s stock valued at $48,975,000 after purchasing an additional 668 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.
Lockheed Martin Stock Performance Shares of LMT opened at $604.87 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.01 and a current ratio of 1.26. Lockheed Martin Corporation has a twelve month low of $437.25 and a twelve month high of $692.00. The firm’s 50 day moving average price is $538.52 and its two-hundred day moving average price is $542.30. The firm has a market cap of $139.60 billion, a P/E ratio of 21.49, a PEG ratio of 1.27 and a beta of 0.09.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The firm had revenue of $20.71 billion during the quarter, compared to analyst estimates of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.95 EPS. On average, analysts forecast that Lockheed Martin Corporation will post 30.49 EPS for the current fiscal year. Lockheed Martin Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a dividend of $3.60 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is 51.15%.
Wall Street Analysts Forecast Growth Several research analysts have recently issued reports on LMT shares. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a report on Wednesday, October 14th. Morgan Stanley increased their target price on Lockheed Martin from $653.00 to $690.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Jefferies Financial Group restated a “hold” rating on shares of Lockheed Martin in a report on Wednesday, September 2nd. Finally, Citigroup boosted their target price on Lockheed Martin from $691.00 to $706.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $632.33.
Get Our Latest Stock Report on Lockheed Martin
Lockheed Martin News Summary Here are the key news stories impacting Lockheed Martin this week:
Positive Sentiment: Q3 beat and raised outlook: Lockheed reported adjusted EPS of $7.97 versus the $7.52 consensus, while revenue rose 11.3% year over year to $20.71 billion. Management now expects 2026 sales of $80 billion-$82 billion and EPS of $30.35-$30.75. Lockheed Martin Reports Third Quarter 2026 Financial Results Positive Sentiment: Record backlog supports future revenue: Total backlog reached approximately $292 billion, up sharply from the prior quarter, with much of the increase coming from PAC-3 and THAAD missile-defense orders. Missiles and Fire Control sales grew 24% as production accelerated, strengthening visibility into long-term growth. Lockheed Martin’s Record $292 Billion Backlog Comes With a Delivery Test Positive Sentiment: Long-term F-35 commitment: The Pentagon and Lockheed announced an initial framework for producing 850 F-35 aircraft over 10 years. The agreement provides greater production visibility and could improve supply-chain efficiency, although Lockheed will invest about $7 billion in supporting projects. Pentagon, Lockheed announce agreement for 850 F-35 jets Positive Sentiment: Cash flow and shareholder returns: Lockheed raised its 2026 free-cash-flow outlook to roughly $7.8 billion-$8.0 billion and recently increased its quarterly dividend 4.4% to $3.60 per share. Lockheed Martin, Interactive Brokers, AEP Hike Dividends on Strong Growth Neutral Sentiment: Industry forecasts point to strong growth in defense electronics and land-based C4ISR, potentially expanding Lockheed Martin’s addressable market, but these reports are third-party projections rather than new company contracts. Negative Sentiment: Execution and funding risks remain: The backlog must be converted into deliveries and cash. F-35 deliveries fell year over year, and Lockheed said spending on the Lot 20 advance contract has exceeded currently authorized funding. Higher contract assets and supply-chain constraints could also delay cash collection or pressure margins. Lockheed is spending its own money before Washington signs off (Free Report)
Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.
Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.
Lockheed Martin serves the U.S.
Recommended Stories Five stocks we like better than Lockheed Martin Spotify Soars After Earnings as the Company Touts AI Benefits and Moderating Costs Lockheed Martin’s Record $292 Billion Backlog Comes With a Delivery Test Palantir’s Next Big Test Isn’t a Partnership—It’s the Numbers Kinder Morgan’s $4.7 Billion Pipeline Bet Could Be Bigger Than Its Earnings Beat Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Lockheed Martin a americké ministerstvo války uzavřely rámcovou dohodu o výrobě a údržbě 850 stíhaček F-35 během deseti let, přičemž tempo výroby má činit 156 letadel ročně.
Multiyear F-35 production and sustainment strengthens the supply chain, saves billions in taxpayer dollars and improves fleet readiness.
, /PRNewswire/ -- The Department of War and Lockheed Martin (NYSE: LMT) unveiled a transformative framework agreement for multiyear F-35 Lightning II production and sustainment. This framework includes 850 U.S. aircraft over 10 years with associated initial spares, 10 years of modification kits and sustainment, and international customer orders across Lots 21-30, at a continued production rate of 156 aircraft per year.
U.S. Air Force photo by Tech. Sgt. Tiffany A. Emery
"This multiyear framework strengthens the way we can plan and invest in the F-35 enterprise," said Lockheed Martin Chairman, President and CEO Jim Taiclet. "With the greater certainty that comes from the U.S. government's transformative approach to F-35 production and sustainment, we can make the upfront investments needed to expand capacity, improve efficiency, and build a more resilient supply chain. That's good for the taxpayer, good for our suppliers and, most importantly, good for the United States and its allies."
If granted multiyear authority and associated appropriations in the coming months, the F-35 Joint Program Office and Lockheed Martin will work to finalize contract terms, pricing, and schedules through a formal contract award, which will fulfill the government's imperative for a predictable, affordable, and resilient fighter jet enterprise. This effort is expected to save taxpayers billions of dollars over F-35's lifecycle through long-term pricing and industry volume discounts.
The framework agreement directly addresses Department of War and Congressional priorities to improve F-35 readiness by:
Providing predictable, multiyear procurement planning that eliminates the need for supplemental appropriations for, obsolescence management and production tooling.
Delivering high-volume procurement efficiencies and discounts that translate into tangible taxpayer savings.
Ensuring transparent, data driven decision-making through integrated analytics that link budget inputs to readiness outcomes.
Providing real-time visibility into parts inventory and readiness metrics through integrated analytics.
Highlights
Supply Chain Stability – Predictable demand from long-term contracts with suppliers will enable bulk procurement of raw materials and critical parts, slashing turnaround times and reducing logistics bottlenecks. This will result in better mission capable rates by eliminating the annual contracting cycle that has historically strained the industrial base.
Affordability – The integrated procurement model that pairs aircraft production with purchases of spare and modification parts will deliver high-volume procurement discounts, drive down unit prices and provide the U.S. government the cost predictability it requires.
Economic Impact – The program will support 317,000 U.S. jobs and generate approximately $79 billion in annual economic activity over the next decade, strengthening the nation's industrial base and providing long-term stability for suppliers who have struggled to plan under the previous resourcing model.
Readiness – This framework adds investments in industry capacity and logistics that build upon Lockheed Martin's existing investments that inject parts into the global spares pool and will further improve fleet readiness and rapid repair turnaround for operations.
International Benefits – The multiyear procurement model enables economies of scale that lower costs and enhance readiness for all F‑35 customers, reinforcing confidence in the global sustainment network and enhancing interoperability across allied fleets.
"Our new multiyear framework gives suppliers stability to plan for the future and invest with confidence, improving readiness across the F-35 fleet," said OJ Sanchez, president of Lockheed Martin Aeronautics. "This, in addition to the investments Lockheed Martin is making to the global spares pool, will directly translate into higher mission capable rates and a more resilient supply chain – critical capabilities the warfighter needs to meet today's mission and prepare for tomorrow's threats."
About the F-35 Lightning II
More than 1,375 F-35s are currently fielded around the globe, and the fleet has surpassed a million flight hours. The combat-proven F-35 operates from 42 bases worldwide, including 13 nations operating on home soil. As adversaries advance and legacy aircraft age, the F-35 is critical to maintaining air dominance into the future.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Společnost Lockheed Martin ve 3. čtvrtletí zvýšila tržby o 11 % na 20,7 mld. USD a čistý zisk o 14 % na 1,8 mld. USD; navýšila také celoroční výhled pro rok 2026.
Sales increased 11% to $20.7 billion
Net earnings increased 14% to $1.8 billion, or $7.97 per share
Cash from operations of $3.4 billion and free cash flow of $3.0 billion
Record backlog of $292.0 billion, including $52.5 billion associated with the multi-year award to produce PAC-3 Missile Segment Enhancement (MSE) interceptors
Updates 2026 financial outlook
, /PRNewswire/ -- Lockheed Martin Corporation [NYSE: LMT] today reported third quarter 2026 sales of $20.7 billion, compared to $18.6 billion in the third quarter of 2025. Net earnings in the third quarter of 2026 were $1.8 billion, or $7.97 per share, compared to $1.6 billion, or $6.95 per share. Cash from operations was $3.4 billion in the third quarter of 2026, compared to $3.7 billion in the third quarter of 2025. Free cash flow was $3.0 billion in the third quarter of 2026, compared to $3.3 billion in the third quarter of 2025. Backlog grew 27% since the second quarter of 2026, setting another new record at $292.0 billion.
"Our strong third quarter performance underscores Lockheed Martin's continuing leadership in the development and delivery of advanced and reliable defense technology solutions. Every day, our research, engineering and production teams are putting highly effective and scalable capabilities in the field. We strive to improve mission performance on a continuous basis by combining proven systems like Aegis, F-35, and Hellfire with the latest digital technologies including AI and Autonomy. We are doing this by integrating our internal innovative solutions with those of start-ups, new entrants into our industry, and commercial technology leaders." said Lockheed Martin Chairman, President and CEO Jim Taiclet.
"By pulling through our existing platforms and systems using innovations from multiple sources and with newly available digital technology, we can drive elevated growth in our financial performance as well. In the third quarter each of our four segments posted growth year-over-year, sales topped $20.7 billion and net earnings exceeded $1.8 billion, increases of 11% and 14% respectively. We delivered $3 billion of free cash flow in the quarter, and increased our backlog to a record $292 billion, allowing us to raise our dividend for the 24th year in a row. The sustained financial momentum across our portfolio gives us confidence to increase our outlook for sales, earnings per share and free cash flow, the second consecutive quarter we have raised our financial guidance."
Summary Financial Results
(in millions, except per share data)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 20,711
$ 18,609
$ 58,795
$ 54,727
Business segment operating profit1
$ 2,229
$ 2,029
$ 6,214
$ 4,685
Unallocated items
FAS/CAS pension operating adjustment
421
380
1,264
1,138
Impairment and other charges
—
—
—
(66)
Intangible asset amortization expense
(49)
(70)
(149)
(197)
Other, net
(158)
(59)
(344)
(160)
Total unallocated items
214
251
771
715
Consolidated operating profit
$ 2,443
$ 2,280
$ 6,985
$ 5,400
Net earnings
$ 1,845
$ 1,619
$ 5,169
$ 3,673
Diluted earnings per share
$ 7.97
$ 6.95
$ 22.36
$ 15.69
Cash from operations
$ 3,438
$ 3,728
$ 6,893
$ 5,338
Capital expenditures
(439)
(381)
(1,268)
(1,186)
Free cash flow1
$ 2,999
$ 3,347
$ 5,625
$ 4,152
1
Business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of
this news release for more information.
Sales: Third quarter 2026 sales increased $2.1 billion, or 11%, driven by growth in each of the company's four business segments.
Business Segment Operating Profit1: Third quarter 2026 business segment operating profit increased $200 million due to munition ramps at Missiles and Fire Control and higher volume at Aeronautics.
Net Earnings and Diluted EPS: Third quarter 2026 net earnings increased $226 million and diluted earnings per share increased $1.02 primarily due to higher consolidated operating profit of $163 million described above.
Cash Flows: Third quarter 2026 cash from operations decreased $290 million and free cash flows decreased $348 million primarily due to the higher customer receipts in the third quarter of 2025. The company's cash activities during the third quarter of 2026 included capital expenditures of $439 million and independent research and development of $599 million.
2026 Financial Outlook
The following guidance table contains forward-looking statements, which are based on the company's expectations at the time of this news release. Actual results may differ materially from those projected. It is the company's practice not to incorporate adjustments in its financial outlook for proposed acquisitions, divestitures, joint ventures, changes in tax laws, or special items until such items have been consummated or enacted. Refer to the "Forward-Looking Statements" section contained in this press release and Form 10-Q for factors that may impact the company's ability to achieve guidance or meet expectations.
(in millions, except per share data)
Current Update
July 2026
Sales
~$80,000 - $82,000
$79,750 - $81,750
Business segment operating profit1
~$8,575 - $8,675
$8,500 - $8,700
Total FAS/CAS pension adjustment
~$1,365
~$1,365
Diluted earnings per share
~$30.35 - $30.75
$29.95 - $30.65
Cash from operations
~$10,000 - $10,200
$9,200 - $9,400
Capital expenditures
~$2,100 - $2,300
$2,000 - $2,400
Free cash flow1
~$7,800 - $8,000
$7,000 - $7,200
1
Business segment operating profit and free cash flow are non-GAAP measures. See the "Use of Non-GAAP Financial Measures" section of
this news release for more information.
F-35 Lots 20-22 Contract Update
The company remains in negotiations with the U.S. Government on the production contracts for F-35 lots 20 and higher. The company's costs incurred began to exceed the current contractual authorization and funding on the Lot 20 advance acquisition contract during the third quarter of 2026. Without additional contractual authorization and funding from the U.S. Government, the company's results of operations, cash flows, and financial condition will be negatively impacted in future periods.
Segment Results
(in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
Aeronautics
$ 8,214
$ 7,256
$ 23,279
$ 21,733
Missiles and Fire Control
4,501
3,624
12,251
10,430
Rotary and Mission Systems
4,511
4,373
12,856
12,696
Space
3,485
3,356
10,409
9,868
Total sales
$ 20,711
$ 18,609
$ 58,795
$ 54,727
Operating profit
Aeronautics
$ 743
$ 682
$ 2,122
$ 1,304
Missiles and Fire Control
631
510
1,725
1,454
Rotary and Mission Systems
524
506
1,384
855
Space
331
331
983
1,072
Total business segment operating profit
2,229
2,029
6,214
4,685
Unallocated items
FAS/CAS operating adjustment
421
380
1,264
1,138
Impairment and other charges
—
—
—
(66)
Intangible asset amortization expense
(49)
(70)
(149)
(197)
Other, net
(158)
(59)
(344)
(160)
Total unallocated items
214
251
771
715
Total consolidated operating profit
$ 2,443
$ 2,280
$ 6,985
$ 5,400
Aeronautics
(in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 8,214
$ 7,256
$ 23,279
$ 21,733
Operating profit
743
682
2,122
1,304
Operating margin
9.0 %
9.4 %
9.1 %
6.0 %
Third quarter 2026 sales increased $958 million, or 13%, compared to the third quarter of 2025. The increase was primarily due to higher sales of $710 million on the F‑35 program as a result of higher volume on production and sustainment contracts and $270 million on the C-130 program due to the liquidation of pre-contract costs incurred in anticipation of a contract award in the third quarter of 2026. These increases were partially offset by lower sales of $130 million on the F-16 program due to lower production volume and the sales impact of unfavorable profit adjustments recognized.
Third quarter 2026 operating profit increased $61 million, or 9%, compared to the third quarter of 2025. The increase was primarily attributable to the higher sales volume previously described, partially offset by higher unfavorable profit adjustments of $40 million on the F-16 program and $40 million on the C-130 program.
Missiles and Fire Control
(in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 4,501
$ 3,624
$ 12,251
$ 10,430
Operating profit
631
510
1,725
1,454
Operating margin
14.0 %
14.1 %
14.1 %
13.9 %
Third quarter 2026 sales increased $877 million, or 24%, compared to the third quarter of 2025. The increase was primarily attributable to higher sales of $480 million on integrated air and missile defense programs due to production ramps (Patriot Advanced Capability-3 (PAC-3) and Terminal High Altitude Area Defense (THAAD)), and $330 million on tactical and strike missile programs due to production ramps (Guided Multiple Launch Rocket Systems (GMLRS) and Precision Strike Missile (PrSM)).
Third quarter 2026 operating profit increased $121 million, or 24%, compared to the third quarter of 2025. The increase was primarily attributable to higher sales volume previously described.
Rotary and Mission Systems
(in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 4,511
$ 4,373
$ 12,856
$ 12,696
Operating profit
524
506
1,384
855
Operating margin
11.6 %
11.6 %
10.8 %
6.7 %
Third quarter 2026 sales increased $138 million, or 3%, compared to the third quarter of 2025. The increase was attributable to higher sales of $140 million on Sensors, Effectors & Mission Systems (SEMS) programs due to higher volume on radar programs.
Third quarter 2026 operating profit increased $18 million, or 4%, compared to the third quarter of 2025 primarily due to a $40 million favorable profit adjustment upon the resolution of a contracting matter, offset by unfavorable profit adjustments of $45 million on Heavy Lift and Seahawk programs in the third quarter of 2026.
Space
(in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 3,485
$ 3,356
$ 10,409
$ 9,868
Operating profit
331
331
983
1,072
Operating margin
9.5 %
9.9 %
9.4 %
10.9 %
Third quarter 2026 sales increased $129 million, or 4%, compared to the third quarter of 2025. The increase was primarily attributable to higher sales of $185 million on strategic and missile defense programs due to higher volume on the Fleet Ballistic Missile (FBM) and Next Generation Interceptor (NGI) programs, partially offset by lower sales of $115 million for national security space programs due to the program lifecycle on the OPIR mission.
Third quarter 2026 operating profit was comparable to the third quarter of 2025.
Income Taxes
The company's effective income tax rates were 15.1% and 16.5% for the quarters ended September 27, 2026 and September 28, 2025. The decrease was primarily attributable to increased tax deductions for foreign derived deduction eligible income (FDDEI), partially offset by the absence of the favorable resolution of certain federal income tax audit items as compared to the prior year.
Use of Non-GAAP Financial Measures
This news release contains the following non-generally accepted accounting principles (non-GAAP) financial measures (as defined by U.S. Securities and Exchange Commission (SEC) Regulation G). While management believes that these non-GAAP financial measures may be useful in evaluating the financial performance of the company, this information should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. In addition, the company's definitions for non-GAAP financial measures may differ from similarly titled measures used by other companies or analysts.
Business segment operating profit
Business segment operating profit represents operating profit from the company's business segments before unallocated income and expense. This measure is used by the company's senior management in evaluating the performance of its business segments and is a performance goal in the company's annual incentive plan. Business segment operating margin is calculated by dividing business segment operating profit by sales. The table below reconciles the non-GAAP measure business segment operating profit with the most directly comparable GAAP financial measure, consolidated operating profit.
(in millions)
Current Update
July 2026
Business segment operating profit (non-GAAP)
~$8,575 - $8,675
$8,500 - $8,700
FAS/CAS operating adjustment1
~1,685
~1,685
Intangible asset amortization expense
~(200)
~(200)
Other, net
~(540)
~(490)
Consolidated operating profit (GAAP)
~$9,520 - $9,620
$9,495 - $9,695
1
Reflects the amount by which total CAS pension cost of $1.7 billion exceeds FAS pension service cost and excludes non-service FAS pension
expense. Refer to the supplemental table "Selected Financial Data" included in this news release for a detail of the FAS/CAS operating
adjustment.
Free cash flow
Free cash flow is a non-GAAP financial measure that the company defines as cash from operations less capital expenditures. The company's capital expenditures are comprised of equipment and facilities infrastructure and information technology (inclusive of costs for the development or purchase of internal-use software that are capitalized). The company uses free cash flow to evaluate its business performance and overall liquidity. While management believes that free cash flow as a non-GAAP financial measure may be useful in evaluating the company's financial performance, it should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies.
Webcast and Conference Call Information
Lockheed Martin Corporation will webcast live the earnings results conference call (listen-only mode) on Thursday, October 22, 2026, at 8:30 a.m. ET on the Lockheed Martin Investor Relations website at www.lockheedmartin.com/investor. The accompanying presentation slides and relevant financial charts are also available at www.lockheedmartin.com/investor.
For additional information, visit the company's website: www.lockheedmartin.com.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.lockheedmartin.com.
Forward-Looking Statements
This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions. The words "believe," "estimate," "anticipate," "project," "intend," "expect," "plan," "outlook," "scheduled," "forecast" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results may differ materially due to factors such as:
the company's reliance on contracts with the U.S. Government, which are dependent on U.S. Government funding and can be terminated for convenience, and the company's ability to negotiate favorable contract terms;
budget uncertainty, the risk of future budget cuts, the impact of continuing resolution funding mechanisms, the debt ceiling and government shutdowns, and changing funding and acquisition priorities;
risks related to the development, production, sustainment, performance, schedule, cost and requirements of complex and technologically advanced programs, including the F-35 program;
the timing of contract awards or contract definitization, the outcome of contract negotiations, decisions by government customers to impose contract terms following undefinitized contract actions, achievement of performance milestones, customer acceptance of product deliveries, and receipt of customer payments;
the company's ability to recover costs under U.S. Government contracts, the mix of fixed-price and cost-reimbursable contracts and the risks inherent in preparing estimates for fixed-price contracts (particularly for complex and technologically advanced programs);
customer procurement and other policies, laws, regulations and executive actions that affect the company and its industry, programs, future opportunities, and financial performance, including those relating to mission priorities, competing domestic and international spending, contracting terms (such as fixed-price requirements), acquisition process reforms, treatment of contractor performance issues, and contractor access to competitive opportunities;
planned production rates and orders for significant programs, compliance with stringent performance and reliability standards, and materials availability, including government furnished equipment, rare earth minerals and microelectronics;
performance and/or financial viability of key suppliers, teammates, joint ventures (including United Launch Alliance, for which the company has provided guarantees and expects to provide additional financial support), joint venture partners, subcontractors and customers;
changes in economic, capital market and political conditions in the U.S. and globally;
the impact of inflation and other cost pressures;
government actions that restrict or prevent the sale or delivery of the company's products (such as delays in approvals for exports requiring Congressional notification);
foreign policy and international trade actions taken by governments such as tariffs, sanctions, embargoes, export and import controls, buying preferences, and other trade restrictions;
the company's success expanding into and doing business in adjacent markets and internationally and the risks posed by international sales, including potential effects from fluctuations in currency exchange rates;
changes in non-U.S. national priorities and government budgets and planned orders;
the competitive environment for the company's products and services;
the company's ability to develop and commercialize new technologies and products, including emerging digital and network technologies and capabilities;
the company's ability to develop and integrate artificial intelligence and autonomy technologies into its products and operations, its use of third-party AI providers, unintended performance of AI-enabled systems, and evolving laws, regulations and contract requirements governing AI and autonomous weapon systems;
the company's ability to benefit fully from or adequately protect its intellectual property rights;
the company's ability to attract and retain a highly skilled workforce and the impact of work stoppages or other labor disruptions;
cyber or other security threats or other disruptions faced by the company or its suppliers;
the company's ability to implement and continue, and the timing and impact of, capitalization changes such as share repurchases, dividend payments and financing transactions, including as a result of presidential executive orders;
the accuracy of the company's estimates and projections;
changes in pension plan assumptions and actual returns on pension assets; cash funding requirements and pension annuity contracts and associated charges;
realizing the anticipated benefits of acquisitions or divestitures, investments, joint ventures, teaming arrangements or internal reorganizations, and market volatility affecting the fair value of investments that are marked to market;
the company's ability to successfully integrate the Ultra Maritime business and realize synergies and other expected benefits of the transaction and the potential for disruption to its or Ultra Maritime's business, customer and supplier relationships;
the company's efforts to fund and increase production capabilities and the efficiency of its operations and improve the affordability of its products and services, including through digital transformation and cost reduction initiatives;
the risk of an impairment of the company's assets, including the potential impairment of goodwill and intangibles;
the availability and adequacy of the company's insurance and indemnities;
compliance with laws, regulations, policies, and customer requirements relating to environmental matters;
the impact of public health crises, natural disasters and other severe weather conditions on the company's business and financial results, including supply chain disruptions and delays, employee absences, and program delays;
changes in accounting, U.S. or foreign tax, export or other laws, regulations, and policies and their interpretation or application, and changes in the amount or reevaluation of uncertain tax positions; and
the outcome of legal proceedings, bid protests, environmental remediation efforts, audits, administrative reviews, government investigations or government allegations that the company has failed to comply with law, other contingencies and U.S. Government identification of deficiencies in its business systems.
These are only some of the factors that may affect the forward-looking statements contained in this news release. For a discussion identifying additional important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the company's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q. The company's filings may be accessed through the Investor Relations page of its website, www.lockheedmartin.com/investor, or through the website maintained by the SEC at www.sec.gov.
The company's actual financial results likely will be different from those projected due to the inherent nature of projections. Given these uncertainties, forward-looking statements should not be relied on in making investment decisions. The forward-looking statements contained in this news release speak only as of the date of its issuance. Except where required by applicable law, the company expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. The forward-looking statements in this news release are intended to be subject to the safe harbor protection provided by the federal securities laws.
Lockheed Martin Corporation
Consolidated Statements of Earnings1
(unaudited; in millions, except per share data)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
Sales
$ 20,711
$ 18,609
$ 58,795
$ 54,727
Operating costs and expenses
(18,275)
(16,369)
(51,835)
(49,430)
Gross profit
2,436
2,240
6,960
5,297
Other income, net
7
40
25
103
Operating profit
2,443
2,280
6,985
5,400
Interest expense
(264)
(286)
(799)
(828)
Non-service FAS pension expense
(81)
(99)
(241)
(296)
Other non-operating income, net
74
43
179
115
Earnings before income taxes
2,172
1,938
6,124
4,391
Income tax expense
(327)
(319)
(955)
(718)
Net earnings
$ 1,845
$ 1,619
$ 5,169
$ 3,673
Effective tax rate
15.1 %
16.5 %
15.6 %
16.4 %
Earnings per common share
Basic
$ 8.00
$ 6.98
$ 22.45
$ 15.74
Diluted
$ 7.97
$ 6.95
$ 22.36
$ 15.69
Weighted average shares outstanding
Basic
230.5
231.9
230.2
233.3
Diluted
231.5
232.8
231.2
234.1
Common shares reported in stockholders'
equity at end of period
230
230
1
The company closes its books and records on the last Sunday of the calendar quarter to align its financial closing with its business processes,
which was on September 27, for the third quarter of 2026 and September 28, for the third quarter of 2025. The consolidated financial
statements and tables of financial information included herein are labeled based on that convention. This practice only affects interim periods,
as the company's fiscal year ends on Dec. 31.
Lockheed Martin Corporation
Business Segment Summary Operating Results
(unaudited; in millions)
Quarters Ended
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
%
Change
Sept. 27,
2026
Sept. 28,
2025
%
Change
Sales
Aeronautics
$ 8,214
$ 7,256
13 %
$ 23,279
$ 21,733
7 %
Missiles and Fire Control
4,501
3,624
24 %
12,251
10,430
17 %
Rotary and Mission Systems
4,511
4,373
3 %
12,856
12,696
1 %
Space
3,485
3,356
4 %
10,409
9,868
5 %
Total sales
$ 20,711
$ 18,609
11 %
$ 58,795
$ 54,727
7 %
Operating profit
Aeronautics
$ 743
$ 682
9 %
$ 2,122
$ 1,304
63 %
Missiles and Fire Control
631
510
24 %
1,725
1,454
19 %
Rotary and Mission Systems
524
506
4 %
1,384
855
62 %
Space
331
331
— %
983
1,072
(8 %)
Total business segment operating profit
2,229
2,029
10 %
6,214
4,685
33 %
Unallocated items
FAS/CAS operating adjustment
421
380
1,264
1,138
Impairment and other charges
—
—
—
(66)
Intangible asset amortization expense
(49)
(70)
(149)
(197)
Other, net
(158)
(59)
(344)
(160)
Total unallocated items
214
251
(15 %)
771
715
8 %
Total consolidated operating profit
$ 2,443
$ 2,280
7 %
$ 6,985
$ 5,400
29 %
Operating margin
Aeronautics
9.0 %
9.4 %
9.1 %
6.0 %
Missiles and Fire Control
14.0 %
14.1 %
14.1 %
13.9 %
Rotary and Mission Systems
11.6 %
11.6 %
10.8 %
6.7 %
Space
9.5 %
9.9 %
9.4 %
10.9 %
Total business segment operating
margin
10.8 %
10.9 %
10.6 %
8.6 %
Total consolidated operating margin
11.8 %
12.3 %
11.9 %
9.9 %
Lockheed Martin Corporation
Consolidated Balance Sheets
(in millions, except par value)
Sept. 27,
2026
Dec. 31,
2025
(unaudited)
Assets
Current assets
Cash and cash equivalents
$ 5,960
$ 4,121
Receivables, net
3,096
3,901
Contract assets
16,899
13,001
Inventories
3,987
3,524
Other current assets
1,059
815
Total current assets
31,001
25,362
Property, plant and equipment, net
11,524
11,292
Goodwill
11,299
11,314
Intangible assets, net
1,737
1,887
Deferred income taxes
1,819
2,975
Other noncurrent assets
7,130
7,010
Total assets
$ 64,510
$ 59,840
Liabilities and equity
Current liabilities
Accounts payable
$ 5,005
$ 3,630
Salaries, benefits and payroll taxes
3,349
3,184
Contract liabilities
12,644
11,440
Current maturities of long-term debt
—
1,168
Other current liabilities
3,542
3,913
Total current liabilities
24,540
23,335
Long-term debt, net
20,498
20,532
Accrued pension liabilities
3,938
3,915
Other noncurrent liabilities
5,471
5,337
Total liabilities
54,447
53,119
Stockholders' equity
Common stock, $1 par value per share
230
229
Additional paid-in capital
451
—
Retained earnings
16,802
14,034
Accumulated other comprehensive loss
(7,420)
(7,542)
Total stockholders' equity
10,063
6,721
Total liabilities and equity
$ 64,510
$ 59,840
Lockheed Martin Corporation
Consolidated Statements of Cash Flows
(unaudited; in millions)
Nine Months Ended
Sept. 27,
2026
Sept. 28,
2025
Operating activities
Net earnings
$ 5,169
$ 3,673
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization
1,223
1,224
Stock-based compensation
269
215
Deferred income taxes
1,114
72
Impairment and other charges
—
66
Reach-forward losses on select programs
—
1,615
Qualified defined benefit pension plans
277
334
Changes in assets and liabilities
Receivables, net
805
(1,493)
Contract assets
(3,898)
(1,231)
Inventories
(463)
(511)
Accounts payable
1,488
1,644
Contract liabilities
1,204
38
Income taxes
(244)
(100)
Other, net
(51)
(208)
Net cash provided by operating activities
6,893
5,338
Investing activities
Capital expenditures
(1,268)
(1,186)
Other, net
(92)
(278)
Net cash used for investing activities
(1,360)
(1,464)
Financing activities
Issuance of long-term debt, net of related costs
—
1,985
Repayments of long-term debt
(1,168)
(142)
Repurchases of common stock
—
(2,250)
Dividends paid
(2,408)
(2,332)
Other, net
(118)
(148)
Net cash used for financing activities
(3,694)
(2,887)
Net change in cash and cash equivalents
1,839
987
Cash and cash equivalents at beginning of period
4,121
2,483
Cash and cash equivalents at end of period
$ 5,960
$ 3,470
Lockheed Martin Corporation
Selected Financial Data
(unaudited; in millions)
2026
Outlook
2025
Actual
Total FAS pension expense and CAS cost
FAS pension expense
$ (370)
$ (924)
Less: CAS pension cost
1,735
1,568
Total FAS/CAS pension adjustment
$ 1,365
$ 644
Less: pension settlement charge
—
479
Total FAS/CAS pension adjustment - adjusted1
$ 1,365
$ 1,123
Service and non-service cost reconciliation
FAS pension service cost
$ (50)
$ (50)
Less: CAS pension cost
1,735
1,568
FAS/CAS pension operating adjustment
1,685
1,518
Non-service FAS pension expense
(320)
(874)
Total FAS/CAS pension adjustment
$ 1,365
$ 644
Less: pension settlement charge
—
479
Total FAS/CAS pension adjustment - adjusted1
$ 1,365
$ 1,123
1
The cost components in the table above relate only to the company's qualified defined benefit pension plans. The company recognized a
noncash, non-operating pretax settlement charge of $479 million in the fourth quarter of 2025.
Lockheed Martin Corporation
Other Financial and Operating Information
(unaudited; in millions, except for aircraft deliveries and weeks)
Backlog
Sept. 27,
2026
Dec. 31,
2025
Aeronautics
$ 57,331
$ 59,435
Missiles and Fire Control
142,517
46,650
Rotary and Mission Systems
49,435
47,715
Space
42,701
39,822
Total backlog
$ 291,984
$ 193,622
Quarters Ended
Nine Months Ended
Aircraft Deliveries
Sept. 27,
2026
Sept. 28,
2025
Sept. 27,
2026
Sept. 28,
2025
F-35
43
46
94
143
F-16
4
5
6
12
C-130J
2
—
10
2
Government helicopter programs
16
22
51
55
Commercial helicopter programs
—
1
—
2
International military helicopter programs
7
6
7
6
Number of Weeks in Reporting Period1
2026
2025
First quarter
12
13
Second quarter
13
13
Third quarter
13
13
Fourth quarter
14
13
1
Calendar quarters are typically comprised of 13 weeks. However, the company closes its books and records on the last Sunday of each month,
except for the month of Dec., as its fiscal year ends on Dec. 31. As a result, the number of weeks in a reporting quarter may vary slightly during
the year and for comparable prior year periods.
For investors seeking out a relatively safe stock to own this year, one investment that can withstand a lot of market volatility is Lockheed Martin (LMT -0.04%). It has risen by around 15% this year, and yet it still offers good value. Plus, it offers a terrific dividend and was a solid stock to own during the last big market crash.
Here's a closer look at the business and why it may prove to be an underrated investment right now.
Image source: Getty Images.
Back in 2022, when the market crashed, Lockheed Martin soaredWhen interest rates were on the rise and many growth stocks were struggling in 2022, Lockheed Martin's stock did far better than the S&P 500. That year, the broad index's total return, which included dividends, was negative 18%. Lockheed Martin's stock, by comparison, was up over 40% when including its payout.
It was a terrific performance for the business, which has a close relationship with the U.S. government and benefits from strong spending on defense, so much so that last year, there were even reports of the U.S. government considering taking a stake in the business.
While it may not generate strong returns if there's another downturn in the markets, the nature of its operations makes it a fairly resilient defense stock to own. In its most recent quarterly results, which ended June 28, revenue totaled $20.1 billion, up 11% year over year.
$551.85-$0.24 (-0.04%)
NYSE · As of 3:31 PM ET 10/19/26
The stock remains an attractive low-value, high-dividend investmentLockheed Martin's stock has been rallying this year, but it may still have plenty of upside at its current price point. Based on analysts' earnings expectations for the year ahead, it's trading at a forward price-to-earnings multiple of just 16. By comparison, the average stock on the S&P 500 trades at a forward P/E of more than 19.
It's a cheap stock to own, and what makes it even more compelling as an investment is its dividend, which yields 2.6%, which is far higher than the 1% that the S&P 500 averages right now. The company has also increased its dividend for 24 consecutive years. Given its strong, resilient business, it's highly likely there will be more dividend increases to come in the future, giving investors plenty of reason to buy and hold the stock for the long haul.
Lockheed Martin may be one of the better all-around stocks to own right now, offering investors an excellent mix of value, safety, dividends, and growth potential.
Analytici očekávají, že společnost Lockheed Martin ve 3. čtvrtletí vykáže EPS ve výši 7,49 USD, což představuje meziroční růst o 7,8 %, při tržbách 20,43 mld. USD (+9,8 %).
Wall Street analysts forecast that Lockheed Martin (LMT - Free Report) will report quarterly earnings of $7.49 per share in its upcoming release, pointing to a year-over-year increase of 7.8%. It is anticipated that revenues will amount to $20.43 billion, exhibiting an increase of 9.8% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Lockheed metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Sales- Aeronautics' will reach $8.00 billion. The estimate indicates a year-over-year change of +10.3%.
According to the collective judgment of analysts, 'Sales- Rotary and Mission Systems' should come in at $4.55 billion. The estimate suggests a change of +4% year over year.
The consensus among analysts is that 'Sales- Missiles and Fire Control' will reach $4.30 billion. The estimate indicates a change of +18.6% from the prior-year quarter.
Analysts forecast 'Sales- Space' to reach $3.55 billion. The estimate points to a change of +5.8% from the year-ago quarter.
Based on the collective assessment of analysts, 'Operating profit (loss)- Aeronautics' should arrive at $741.80 million. Compared to the current estimate, the company reported $682.00 million in the same quarter of the previous year.
Analysts predict that the 'Operating profit (loss)- Space' will reach $347.63 million. The estimate compares to the year-ago value of $331.00 million.
The collective assessment of analysts points to an estimated 'Operating profit (loss)- Rotary and Mission Systems' of $467.52 million. Compared to the present estimate, the company reported $506.00 million in the same quarter last year.
The consensus estimate for 'Operating profit (loss)- Missiles and Fire Control' stands at $594.39 million. The estimate compares to the year-ago value of $510.00 million.
View all Key Company Metrics for Lockheed here>>>
Over the past month, shares of Lockheed have returned +3.5% versus the Zacks S&P 500 composite's +1.5% change. Currently, LMT carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Key Takeaways Lockheed Martin wins a $117.1M contract for Apache radar support services, with work running through 2031.The contract supports Apache radar threat detection and situational awareness.Geopolitical tensions and military modernization boost demand for Lockheed Martin's defense technologies.
Lockheed Martin (LMT - Free Report) recently secured a $117.1 million contract to provide post-production support services for Generation II radar frequency interferometers for Apache attack helicopters. The contract was awarded by the Army Contracting Command, Redstone Arsenal, AL.
Work locations and funding will be determined with each order placed under the contract. The work is expected to be completed by Oct. 12, 2031.
Importance of LMT’s Apache Radar ContractThe Generation II radar frequency interferometer supports the Apache attack helicopter’s electronic warfare capabilities by helping detect and identify radar emissions from potential threats. Such systems support threat awareness and situational awareness, enabling crews to respond to hostile radar activity in complex operational environments.
The contract’s focus on post-production support highlights the importance of maintaining and sustaining existing defense systems throughout their operational lives. Continued support services can help preserve equipment readiness and reliability as the U.S. Army operates its Apache helicopter fleet.
Lockheed Martin’s Growth OpportunitiesRising geopolitical tensions, military modernization initiatives and sustained demand for advanced combat capabilities are supporting growth opportunities for defense contractors like Lockheed Martin. The company’s broad portfolio of aerospace and defense technologies, coupled with long-term relationships with the U.S. military and international customers, positions it to benefit from ongoing defense procurement and sustainment requirements.
Lockheed Martin’s defense portfolio includes the Patriot Advanced Capability-3 (PAC-3) missile defense system, the Terminal High Altitude Area Defense (THAAD) system, the F-35 fighter jet and the Apache helicopter. Contracts involving equipment support and sustainment also provide opportunities to maintain customer relationships beyond the initial delivery of defense platforms.
Opportunities for Other Defense StocksOther defense contractors that provide electronic warfare, radar and related defense technologies may also benefit from continued investment in military modernization and equipment sustainment.
RTX Corporation (RTX - Free Report) : RTX develops advanced radar and electronic warfare systems for air and missile defense, aircraft and naval platforms. Its portfolio includes the AN/SPY-6 family of naval radars and the AN/TPY-2 radar, which supports ballistic missile defense missions.
The company’s radar and sensor technologies address evolving military requirements for threat detection, tracking and situational awareness.
Northrop Grumman (NOC - Free Report) : Northrop Grumman develops advanced radar, electronic warfare and surveillance technologies for military applications. Its portfolio includes the AN/TPS-80 Ground/Air Task-Oriented Radar (G/ATOR) and other systems designed to support air defense, surveillance and battlefield awareness.
These capabilities position the company to address defense requirements for detecting and tracking threats across multiple operational environments.
L3Harris Technologies (LHX - Free Report) : L3Harris provides electronic warfare, surveillance and radar technologies for military platforms. Its offerings include tactical air surveillance and long-range surveillance radar systems, along with solutions designed to support threat detection and situational awareness.
Continued demand for advanced sensing and electronic warfare capabilities may create opportunities for the company as military forces modernize their defense systems.
Objem nevyřízených zakázek společnosti Lockheed Martin dosáhl 230 mld. USD, což představuje 2,8násobek středu odhadovaného rozpětí tržeb pro rok 2026, zejména díky objednávkám v segmentu MFC s nejvyšší marží.
Defense companies are traditionally known for their resilience across a range of economic conditions. The main customer of Lockheed Martin (LMT +3.65%) and others is the U.S. government and its defense agencies, closely followed by the governments of U.S. allies. They are highly reliable payers, and demand for defense tends to remain stable across economic cycles.
As such, analyzing Lockheed Martin's backlog tells you a lot about where the company is heading, and it's good news.
Image source: Getty Images.
Lockheed Martin's current backlog stands at $230 billion, a figure nearly $37 billion higher than at the end of 2025. To put that figure into context, the midpoint of management's 2026 revenue guidance is $80.75 billion, so the backlog represents 2.8 times estimated 2026 revenue. It clearly implies strong growth ahead.
LMT Lockheed Martin$552.09+$19.45 (+3.65%)
NYSE · As of 4:00 PM ET 10/16/26
I've broken out the backlog at the end of 2025 and the end of June. The table shows how the backlog increase is nearly entirely in the missiles and fire control (MFC) segment. This matters for two reasons, which I will outline below.
Segment
End of 2025 Backlog
End of June 2026 Backlog
Operating Profit 2025
Operating Margin 2025
Aeronautics
$59.44 billion
$54.36 billion
$2.09 billion
6.9%
Missiles and Fire Control
$46.65 billion
$87.89 billion
$1.99 billion
13.8%
Rotary and Mission Systems
$47.72 billion
$48.45 billion
$1.32 billion
7.6%
Space
$39.82 billion
$39.72 billion
$1.36 billion
10.3%
Data source: Lockheed Martin presentations.
Why the increase in the missiles and fire control backlog matters
First, as the table indicates, the segment carries the highest profit margin for the company, and a relative increase in the backlog from MFC implies an improving backlog profit margin. Second, and arguably more importantly, it's worth noting that many defense companies, including Lockheed Martin, have suffered from delays, cost overruns, and multibillion-dollar charges on highly complex fixed-price development programs in recent years.
These issues led Lockheed's management to say at the start of 2024 that "we just are employing a lot more pricing discipline than we have more recently" regarding contracts.
That appears to be the case, because the increase in the MFC backlog has been driven by orders for mature systems where the main risk is manufacturing at scale rather than research and development. For example, the $35 billion award for Terminal High Altitude Area Defense (THAAD) interceptors in June and the $4.7 billion contract for Patriot Advanced Capability-3 (PAC-3) interceptors.
Moreover, the $230 billion backlog figure doesn't include the $53.86 billion PAC-3 order made after the second quarter ended.
Lockheed Martin's backlog is a plus
Not only is the company's backlog improving, but it's arguably lower-risk than in previous years and potentially higher-margin, too. These factors help support the investment case for the stock.
B. Riley Wealth Advisors Inc. grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 52.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,804 shares of the aerospace company’s stock after acquiring an additional 960 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Lockheed Martin were worth $1,428,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC grew its stake in shares of Lockheed Martin by 4,800.0% in the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock valued at $30,000 after buying an additional 48 shares in the last quarter. Burnham & Co LLC acquired a new position in Lockheed Martin in the second quarter worth approximately $25,000. Basso Capital Management L.P. acquired a new position in Lockheed Martin in the fourth quarter worth approximately $25,000. Field & Main Bank bought a new position in Lockheed Martin during the second quarter valued at approximately $26,000. Finally, TD Capital Management LLC raised its position in Lockheed Martin by 450.0% during the fourth quarter. TD Capital Management LLC now owns 55 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes Several research analysts have recently commented on LMT shares. Citigroup increased their price target on shares of Lockheed Martin from $641.00 to $691.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Wells Fargo & Company set a $600.00 price objective on shares of Lockheed Martin in a research note on Monday, July 27th. TD Cowen decreased their price objective on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a report on Friday, October 9th. Finally, Sanford C. Bernstein decreased their price objective on shares of Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $628.10.
View Our Latest Research Report on LMT More Lockheed Martin News Here are the key news stories impacting Lockheed Martin this week:
Positive Sentiment: Lockheed Martin announced a $300 million expansion of its Grand Prairie, Texas, advanced-munitions facility and plans to create approximately 6,000 U.S. jobs. The investment is intended to increase production of critical missile systems, including PAC-3 MSE interceptors, supporting longer-term revenue visibility as governments replenish inventories. Lockheed Martin Expands Advanced Munitions Manufacturing in Texas Positive Sentiment: The company raised its quarterly dividend 4.3% to $3.60 per share, or $14.40 annualized, extending its dividend-growth streak to 24 years. The increase reinforces the investment case for income-focused shareholders. This Defense Stock Just Raised Its Dividend by 4.3% Positive Sentiment: Lockheed Martin is expanding technology cooperation with the Royal Netherlands Aerospace Centre and discussing F-16 upgrades with Ukraine’s air force. The initiatives could support international defense relationships and future program opportunities. Skunk Works and the Royal Netherlands Aerospace Centre Expand Strategic Collaboration Positive Sentiment: Analysts and market commentary point to potential earnings strength next week, supported by recent contract activity, missile-production expansion and sustained defense spending. Lockheed’s current fiscal-year EPS guidance is $29.95 to $30.65. Lockheed Martin Earnings Expected to Grow Neutral Sentiment: Bernstein maintained a Hold rating, while RBC reduced its price target from $600 to $550 and assigned a Sector Perform rating. The revised target still implies limited potential upside but signals caution after the recent rebound. Negative Sentiment: Investors remain focused on valuation, cash-flow conversion and the risk of cost overruns on fixed-price programs. Comparisons with RTX also highlight concerns about Lockheed’s leverage and exposure to individual defense programs. Lockheed Martin Trading Up 2.2% Shares of Lockheed Martin stock opened at $533.65 on Friday. The company’s fifty day simple moving average is $542.60 and its 200-day simple moving average is $543.79. Lockheed Martin Corporation has a 1 year low of $437.25 and a 1 year high of $692.00. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 2.34. The company has a market cap of $123.16 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.13 and a beta of 0.09.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%. The firm had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 30.44 EPS for the current year.
Lockheed Martin Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s payout ratio is 50.87%.
Lockheed Martin Profile (Free Report)
Lockheed Martin Corporation is a global aerospace, defense and technology company headquartered in Bethesda, Maryland. The company develops and produces advanced systems for government and commercial customers, with the U.S. Department of Defense and other U.S. government agencies representing its primary customers.
Its principal activities include the design and manufacture of military aircraft, missiles, air and missile defense systems, radar and sensor technologies, naval and rotary-wing systems, satellites, space exploration systems, and cybersecurity and information technology solutions.
Further Reading Five stocks we like better than Lockheed Martin ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle Beyond the GPU: Credo Paves the Next AI Data Superhighway
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
UBS očekává, že divize MFC společnosti Lockheed Martin poroste do roku 2030 o 20 % ročně, což by mohlo dlouhodobě přinášet pozitivní překvapení ve výsledcích hospodaření.
It's been a little over a month since UBS analyst Gavin Parsons upgraded Lockheed Martin (LMT +2.93%) stock to "buy" with a $674 price target, predicting "26% upside" as sales of missiles, munitions, F-35 stealth fighters, helicopters, and... Trident nuclear missiles (!) drive 9% sales growth for the defense giant over the next few years.
Lockheed stock is up a couple of percentage points since that Sept. 8 upgrade. Today, Lockheed's gaining another 2.5% through 1:10 p.m. ET -- its third straight day of gains.
And once again, UBS is the reason.
Image source: Lockheed Martin.
UBS still loves Lockheed Martin stockBack in September, Parsons argued that Lockheed Martin's Missiles and Fire Control (MFC) division alone would grow a total of 150% in size over the next five years. In a note covered on StreetInsider.com this morning, the analyst reiterated this prediction, further detailing that he expects sales to grow 20% annually through 2030.
In dollars and cents, he says this works out to sales of PAC-3 Patriot and THAAD air defense missiles and JASSM/LRASM attack missiles, "adding $7bn / $5bn / and $3bn respectively, to topline" revenue. But according to UBS, few investors are expecting such growth -- meaning Lockheed Martin could deliver positive earnings surprises for years.
$548.23+$15.59 (+2.93%)
NYSE · As of 1:48 PM ET 10/16/26
How to value Lockheed Martin stockNow here's why this is important for investors: Beyond just the revenue growth, you need to realize that MFC is currently Lockheed Martin's most profitable division, delivering 13% operating profit margins on its revenue, versus an overall profitability of 10.7%.
This implies that if Lockheed grows sales 20% annually, its profits could grow even faster -- specifically, faster than the 17% growth the rest of Wall Street predicts.
At a share price below 20 times earnings, Lockheed Martin stock looks like a buy to me.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lockheed Martin. The Motley Fool has a disclosure policy.
Lockheed Martin (LMT - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on October 22, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis aerospace and defense company is expected to post quarterly earnings of $7.48 per share in its upcoming report, which represents a year-over-year change of +7.6%.
Revenues are expected to be $20.35 billion, up 9.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.23% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Lockheed?For Lockheed, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.27%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Lockheed will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Lockheed would post earnings of $7.22 per share when it actually produced earnings of $7.94, delivering a surprise of +9.97%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Lockheed appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Aerospace - Defense industry, RTX (RTX - Free Report) , is soon expected to post earnings of $1.76 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +3.5%. This quarter's revenue is expected to be $23.84 billion, up 6.1% from the year-ago quarter.
The consensus EPS estimate for RTX has been revised 0.1% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.15%.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that RTX will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Lockheed Martin Skunk Works a nizozemské NLR rozšířily partnerství zaměřené na obranné technologie, včetně bezpilotních systémů, vojenských analýz a plánů technologického rozvoje.
, /PRNewswire/ -- Lockheed Martin Skunk Works® (NYSE: LMT) and The Royal Netherlands Aerospace Centre (NLR) today announced a broadening of their strategic partnership at NL-US Defense Industry Days. What began two years ago as an exploratory Memorandum of Understanding (MoU) has matured into a high-impact collaboration, rapidly transitioning advanced technologies from the research lab into operational solutions that directly support the mission readiness of the Royal Netherlands Air Force.
The Royal Netherlands Aerospace Centre
Tineke van der Veen, CEO of NLR, and Ron Fehlen, Vice President and General Manager of Skunk Works, sign an MOU to continue collaborating on advancing new defense technologies. This agreement between the two like-minded organizations highlights the power of combined world-class expertise with global industry leadership to accelerate critical technological breakthroughs. Skunk Works has a more than 80-year history of developing groundbreaking aerospace systems and continues to deliver cutting-edge solutions globally for America and allied nations. Skunk Works' visionary focus on innovation aligns with NLR's mission of making aerospace technology more sustainable, safer, more efficient, and more effective.
Proven results driving future innovation
Since the inception of this MOU, the two organizations have successfully navigated complex operational and security environments inherent to confidential high-tech development. By establishing robust joint frameworks, workshops, and specialized working groups, NLR and Skunk Works have bridged distinct organizational cultures. This operational success has unlocked more opportunities, paving the way for a deeper and more ambitious roadmap.
"We believe that modern aerospace development relies on global integration rather than isolation, making cross-border partnerships essential to deliver systems that no single nation can build alone," said Tineke van der Veen, CEO at Royal NLR. "Referring to the Dutch Defence White Paper 2026, NATO is the cornerstone of our defense, with the United States as our most important ally. Together with Skunk Works, we're committed to cooperate to solve the highest priorities of the air force for the challenges ahead of us."
"Lockheed Martin is excited about continued partnership with NLR through expansion of this MOU," said Ron Fehlen, vice president and general manager of Skunk Works. "We have matured specific projects with cutting-edge technologies, such as Thermoplastics, and through our continued collaboration, we will develop new solutions to address pressing aerospace and defense challenges."
In this next phase, we'll focus on four key pillars. These include connectivity to the Dutch industrial base, coordination on military operational analysis, alignment on technology roadmaps, and collaboration on Unmanned Aerial Systems (UAS). We'll position the Dutch defense industrial base within the international supply chain, bridge the gap between mission needs and capability requirements, and work together on enabling technologies.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
About Royal NLR – Netherlands Aerospace Centre
Royal NLR operates as an objective and independent research centre, making aerospace more sustainable, safer, more efficient and more effective. As part of this, NLR offers innovative solutions and technical expertise, creating a strong competitive position for the commercial sector. More information at www.nlr.org.
Lockheed Martin investuje 300 milionů USD do rozšíření závodu v Grand Prairie v Texasu a plánuje vytvořit 6 000 pracovních míst v USA, z toho 2 000 v Texasu.
New Hadrian partnership bringing world-class, commercial-style manufacturing technology to accelerate production of critical munitions
, /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced plans to create 6,000 jobs across the United States including 2,000 in Texas, as the company expands advanced manufacturing capacity to accelerate production of critical munitions.
Lockheed Martin celebrated a ribbon cutting for a nearly 200,000-square-foot expansion of a new advanced manufacturing facility that will expand the company‘s manufacturing footprint in Grand Prairie, Texas, to more than 735,000 square feet.
Hadrian will bring innovative, highly automated machining cells to the Grand Prairie facility, operated by the world-class Lockheed Martin production workforce.
At the center of that growth is Lockheed Martin's Grand Prairie operation, where the company is investing $300 million and expanding its manufacturing footprint to more than 735,000 square feet. The expansion includes 100,000 square feet of new space and 85,000 square feet of office space being transformed for advanced manufacturing, creating additional capacity for automation, digital manufacturing and high-precision machining.
The company also announced today that Hadrian will bring an innovative, highly automated machining cell to the Grand Prairie facility, operated by the world-class Lockheed Martin production workforce. Expected to be operational in early 2027, the 24-machine cell will bring commercial-style manufacturing technology directly into Lockheed Martin's production environment and add dedicated capacity for critical defense components.
THE BIG PICTURE
Lockheed Martin is building a manufacturing model designed for speed, scale and sustained production, bringing together the best of defense and commercial manufacturing to build a more resilient, automated and digitally integrated production model designed to deliver critical capabilities faster. The new Hadrian cell is the latest example of that strategy. It follows Lockheed Martin's recently announced collaboration with GM Defense to apply commercial automotive manufacturing expertise to defense production.
EXPERT PERSPECTIVE
"This expansion is more than just a new facility; it is a stronger supply chain and a more resilient industrial base," said Michael P. Duffey, Under Secretary of War for Acquisition and Sustainment. "Today in Grand Prairie, American industry is answering the call to support our warfighters."
"Lockheed Martin has brought together commercial speed and combat-proven performance because America needs both," said Jim Taiclet, chairman, president and CEO of Lockheed Martin. "By combining advanced technology with the expertise of our American workforce, we're transforming manufacturing to deliver critical munitions at speed and scale."
"The warfighter can't wait on peacetime timelines. Hadrian is bringing the automation, software and workforce training from our own factories directly inside Lockheed Martin, so we can produce more, faster. Rebuilding the Arsenal of Freedom at the scale America needs will take partnerships that combine expertise and speed, and this is what that looks like," said Chris Power, CEO of Hadrian.
WHY IT MATTERS
Delivering critical munitions: Lockheed Martin's Grand Prairie facility supports all Missiles and Fire Control programs, including PAC-3 MSE, THAAD, PrSM and JATM. The expansion and partnership announced today will help Grand Prairie reach record production levels and deliver components to final-assembly sites including Camden, Arkansas, and Troy, Alabama.
Investing ahead of demand: The $300 million investment in this expansion is part of the company's broader commitment to invest $8–9 billion through 2030 to scale munitions production and modernize or expand more than 20 facilities across the United States.
Building a manufacturing model that can scale: Lockheed Martin is combining a highly skilled workforce with automation, digital manufacturing, precision machining and commercial manufacturing practices to increase capacity and strengthen the defense industrial base.
Creating greater predictability: Working with Department of War leadership, Lockheed Martin is applying commercially inspired contracting approaches through landmark agreements for PAC-3 MSE, THAAD, PrSM and JATM. These agreements provide greater predictability to invest in people, equipment and supply chains while accelerating production and delivery.
ADDITIONAL CONTEXT
The Grand Prairie facility is already home to hundreds of critical machining and advanced manufacturing assets, and Lockheed Martin is rapidly adding even more capacity. In just a few months, the company has transformed former office space into advanced manufacturing areas and installed more than 30 additional high-precision machines now producing thousands of critical components each week.
By the end of 2026, Lockheed Martin expects to have added nearly 100 new advanced machines across the facility.
Nearly 800 production employees currently work at the facility which manufactured 250,000 parts in 2025.
Today's announcement with Hadrian follows the signing of a seven-year agreement signed by both companies in 2025.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
About Hadrian
Hadrian is rebuilding America's industrial base with highly automated factories that combine process engineering, AI, and robotics. Its mission is to help space and defense manufacturers produce full programs at scale in the U.S. while giving American workers the tools to compete globally.
The company operates four facilities covering just under 3 million square feet: two in Torrance, California, and newly launched sites in Arizona and Alabama, with additional sites in development across the country. More information at https://www.hadrian.co/.
Akcie společnosti Lockheed Martin ve středu vzrostly o 3,3 % poté, co společnost Vertical Research zahájila pokrytí titulu s doporučením „koupit“ a cílovou cenou 600 USD.
Lockheed Martin (NYSE: LMT) stock jumped 3.3% through 1:55 p.m. ET on Wednesday.
You can thank Vertical Research for that.
Image source: Lockheed Martin.
Vertical Research loves Lockheed Martin stockTwo separate research notes came out on Lockheed Martin this morning. Investment bank Bernstein took the under, cutting its price target on the defense stock to $564 amid worries about potential delays in defense funding in Congress this year and concerns that "the path to a budget remains uncertain," as TheFly.com reports.
Not to worry, though, says Vertical Research analyst Robert Stallard. "While there is much uncertainty about the outlook for the U.S. defense budget," one place where funding seems secure is spending to acquire missiles for air defense after the Iran war severely eroded stockpiles of Patriot missiles.
And Lockheed Martin, of course, builds the Patriot.
Premium Feature
Moneyball Superscore
76/100
Today's Change
(
3.41
%) $
17.18
Current Price
$
521.20
What's next for Lockheed stock?The need to buy new missiles to replace those that have been used up means a large part of Lockheed Martin's revenue pipeline is probably secure, whatever happens to the rest of the defense budget. And with Lockheed stock down 23% since its highs earlier this year -- and down 14% over just the last two months-- now may be a good time to get in and buy some Lockheed stock.
In fact, that's exactly what Stallard recommends -- initiating coverage of Lockheed stock with a buy rating and a $600 price target.
With Lockheed stock priced below 20 times earnings today, paying a 2.9% dividend, and expected to grow earnings better than 17% annually over the next five years, the price looks right to me, too.
Lockheed Martin stock is a buy.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lockheed Martin. The Motley Fool has a disclosure policy.
Lockheed Martin a Avio uzavřely strategickou spolupráci na výrobě raketových motorů na tuhé pohonné látky. Po kvalifikaci se počáteční práce zaměří na motory pro ER GMLRS a PrSM v novém závodě Avio USA ve Virginii.
Lockheed Martin and Avio Announce Strategic Cooperation Agreement for Solid Rocket Motor Production
Lockheed Martin (NYSE: LMT) and Avio announced a strategic cooperation agreement for the production of solid rocket motors (SRMs). This collaboration will accelerate and expand the SRM industrial base with key manufacturing capabilities, bringing resiliency to a vital U.S. supply chain.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261013766935/en/
Avio USA CEO James Syring (L) and Lockheed Martin MFC President Tim Cahill announce a strategic cooperation agreement for the production of solid rocket motors at AUSA Annual Meeting 2026.
THE BIG PICTURE
After qualification, initial work will focus on the production of solid rocket motors for the Extended Range GMLRS® (ER GMLRS) and the Precision Strike Missile (PrSM). SRM production for these essential programs will be performed at Avio USA’s new state-of-the-art facility in Hurt, Virgina, drawing on the longstanding solid propulsion expertise of its parent company, Avio S.p.A. (EXM: AVIO).
WHY IT MATTERS
SRM supply chain resiliency: This agreement provides Lockheed Martin access to a share of Avio’s merchant supply capacity for ER GMLRS and PrSM production, ensuring flexibility and creating surety of supply in the crucial SRM supply chain to meet accelerating customer demand and guarantee uninterrupted mission readiness across global operations.Increased production capacity: By augmenting the defense industrial base, this effort demonstrates Lockheed Martin’s agile response to heightened production requirements, supporting the expansion of dedicated lines and resources to fulfill emerging operational needs for SRM production.Accelerated ER GMLRS and PrSM manufacturing capabilities: By leveraging expanded SRM production capacity, Lockheed Martin is creating the opportunity to accelerate ER GMLRS and PrSM output to deliver increased munition volumes faster to support warfighters and combatant commands.EXPERT PERSPECTIVE
“A reliable and diverse supply chain for solid rocket motors is fundamental to our strategy for a stronger defense industrial base. This strategic cooperation agreement with Avio enables us to speed up production of essential capabilities, ensuring our customers maintain their competitive edge against emerging threats,” said Tim Cahill, president of Lockheed Martin Missiles and Fire Control.“This agreement is a major milestone for Avio USA and for the facility and team we are building in Virginia,” said James Syring, CEO of Avio USA. “The Lockheed Martin programs contribute to a strong foundation for the factory operations. It gives us tremendous momentum as we continue construction, grow our U.S. workforce and prepare to begin manufacturing.”“Avio has launched an investment of over $500M in new production capacity for SRMs in the United States with a view to become a merchant supplier to the various defense customers. In this context, Avio is excited to be able to support Lockheed Martin in their effort to increase production volumes and resiliency and will put all its expertise at work to accelerate towards this goal,” said Giulio Ranzo, Chief Executive Officer of Avio.ADDITIONAL DETAILS
This strategic cooperation agreement between Lockheed Martin and Avio USA will strengthen the U.S. SRM industrial base, bolstering the defense supply chain and enabling our troops to have access to reliable, high-performance munitions to defend our nation and its allies.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
About Avio USA
Avio USA Inc., headquartered in Arlington, Virginia, is a subsidiary of Avio S.p.A. structured to operate in compliance with U.S. security and export-control regulations. The company is governed by a U.S.-based board of directors and led by CEO James Syring, a retired U.S. Navy Vice Admiral and former Director of the U.S. Missile Defense Agency. Avio USA is building a growing U.S. engineering, manufacturing and operations presence, leveraging Avio’s global propulsion expertise to expand domestic production and serve as an independent supplier to U.S. defense customers and industry partners. Learn more at AvioUSA.com.
About Avio
Avio S.p.A. (EXM: AVIO) is a leading international group engaged in the manufacturing and development of space launchers and solid, liquid and cryogenic propulsion systems. The experience and know-how built up over more than 50 years puts Avio at the cutting edge of the space launcher sector and defense programs. Avio is present in Italy, France, the United States and French Guiana, employing more than 1,500 highly qualified personnel. Avio is the prime contractor for the Vega program and a subcontractor for the Ariane program, as well as a leading solid rocket motor subcontractor for the design and manufacturing of major European tactical missile programs. Learn more at Avio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261013766935/en/
Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
NorthCrest Asset Management ve třetím čtvrtletí snížila svůj podíl v Lockheed Martin o 5,7 % prodejem 1 555 akcií; nadále drží 25 650 akcií v hodnotě 13,027 milionu USD.
NorthCrest Asset Manangement LLC reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 5.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 25,650 shares of the aerospace company’s stock after selling 1,555 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Lockheed Martin were worth $13,027,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Basso Capital Management L.P. purchased a new position in shares of Lockheed Martin during the 4th quarter valued at about $25,000. Burnham & Co LLC purchased a new stake in Lockheed Martin in the second quarter worth approximately $25,000. Field & Main Bank bought a new position in Lockheed Martin during the second quarter valued at approximately $26,000. Bard Associates Inc. bought a new position in Lockheed Martin during the fourth quarter valued at approximately $27,000. Finally, TD Capital Management LLC raised its stake in shares of Lockheed Martin by 450.0% during the fourth quarter. TD Capital Management LLC now owns 55 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 45 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin Price Performance LMT opened at $511.90 on Tuesday. The stock’s 50 day simple moving average is $546.39 and its 200 day simple moving average is $545.96. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. Lockheed Martin Corporation has a 1 year low of $437.25 and a 1 year high of $692.00. The firm has a market cap of $118.14 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.11 and a beta of 0.09.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%. The business had revenue of $20.06 billion for the quarter, compared to analysts’ expectations of $19.34 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, analysts predict that Lockheed Martin Corporation will post 30.44 earnings per share for the current year. Lockheed Martin Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be issued a $3.60 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is 50.87%.
Key Stories Impacting Lockheed Martin Here are the key news stories impacting Lockheed Martin this week:
Positive Sentiment: Lockheed Martin’s Sikorsky unveiled a containerized drone deployment system, potentially expanding the company’s offerings in rapidly growing unmanned and autonomous defense markets. Lockheed Martin’s Sikorsky unveils containerized drone deployment system Positive Sentiment: Lockheed Martin received approximately $114 million in GPS modernization awards. Rising demand for secure satellite-navigation systems could support longer-term growth in its Space segment. Can GPS Modernization Strengthen Lockheed Martin’s Growth Outlook? Positive Sentiment: The company raised its quarterly dividend 4.3% to $3.60 per share, or $14.40 annualized, supporting its income-investment appeal and signaling continued confidence in cash generation. Lockheed Martin raises dividend by 4.3% to $3.60 Positive Sentiment: Lockheed is promoting a faster, longer-range PAC-3 interceptor designed to counter more capable missiles, which could reinforce demand for its missile-defense portfolio, although pricing remains an investor consideration. Lockheed bets on revolutionary Patriot to stop faster missiles Neutral Sentiment: Barclays initiated coverage with an “Equal Weight” rating, suggesting limited near-term conviction on outperformance. Lockheed Martin Stock Rated Equal Weight in New Coverage at Barclays Neutral Sentiment: Large-cap stocks recently approached record highs while smaller shares weakened, indicating a generally favorable but selective market backdrop for LMT. Big Board Names Near Highs While Smaller Shares Lag the Broad Tape Negative Sentiment: Anduril’s development of a cheaper Steelfin interceptor and potential Patriot/THAAD alternative raises competitive risks for Lockheed Martin’s missile-defense business and may prolong the stock’s underperformance. Lockheed Martin stock at risk as Anduril builds cheaper Patriot, THAAD alternative Negative Sentiment: TD Cowen issued a pessimistic forecast for LMT, adding to concerns about valuation, growth and competitive pressure. TD Cowen Issues Pessimistic Forecast for Lockheed Martin Stock Price Wall Street Analysts Forecast Growth A number of equities research analysts have recently weighed in on LMT shares. Barclays began coverage on shares of Lockheed Martin in a report on Friday. They issued an “equal weight” rating and a $554.00 price objective for the company. Morgan Stanley upped their price objective on shares of Lockheed Martin from $653.00 to $690.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 20th. UBS Group raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and increased their target price for the company from $581.00 to $674.00 in a report on Tuesday, September 8th. Finally, Rothschild & Co Redburn started coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $634.50.
Check Out Our Latest Report on Lockheed Martin
Lockheed Martin Profile (Free Report)
Lockheed Martin Corporation is a global aerospace, defense and technology company headquartered in Bethesda, Maryland. The company develops and produces advanced systems for government and commercial customers, with the U.S. Department of Defense and other U.S. government agencies representing its primary customers.
Its principal activities include the design and manufacture of military aircraft, missiles, air and missile defense systems, radar and sensor technologies, naval and rotary-wing systems, satellites, space exploration systems, and cybersecurity and information technology solutions.
Further Reading Five stocks we like better than Lockheed Martin Salesforce Just Got a Rare Double Upgrade—What Changed? OpenAI’s Revenue Scare Could Be a Big Opportunity for Investors China Still Dominates Rare Earths—These 3 U.S. Companies Could Benefit 3 REITs That May Win in a Higher Interest Rate Environment Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Key Takeaways LMT secured $114M in GPS modernization orders to support GPS IIIF satellites and ground upgrades.Rising demand for secure, resilient GPS systems could support LMT's long-term space business growth.LMT shares gained 1.2% in a year, while its industry fell 18.2%.
Lockheed Martin (LMT - Free Report) is positioned to benefit from growing demand for secure and resilient satellite navigation systems as the U.S. military seeks to protect critical space infrastructure from evolving threats. The Global Positioning System (GPS) supports military operations, navigation, communications and timing services used across defense and commercial applications, making system reliability increasingly important.
Modernizing the GPS ground segment is key to maintaining these capabilities. Upgraded hardware and software can improve system security, reliability and flexibility while helping the network support next-generation satellites. A modular architecture can also make future upgrades easier to implement as technology and operational requirements evolve.
Lockheed Martin continues to support these efforts through its work with the U.S. Space Force. In September 2026, the company announced $114 million in additional task orders for GPS ground-system modernization, including support for GPS IIIF satellites and a technology refresh of existing ground infrastructure.
Beyond these awards, the need to protect satellite navigation from cyber threats, system disruptions and increasingly complex operating environments could sustain demand for space-based defense technologies. Reliable GPS capabilities remain important for precision-guided weapons, military logistics and a wide range of civilian services.
Lockheed Martin’s experience in satellite navigation, space systems and ground infrastructure positions it to benefit from continued investment in resilient GPS capabilities. Ongoing modernization and long-term system support could provide opportunities across its broader space business.
Defense Stocks to Keep on the RadarGrowing investment in resilient space infrastructure and satellite navigation could also benefit other defense contractors with established space capabilities.
Northrop Grumman (NOC - Free Report) : Northrop Grumman develops advanced space systems and satellite technologies for national security missions, supporting demand for resilient space-based capabilities.
RTX Corporation (RTX - Free Report) : RTX provides navigation, positioning and timing technologies for military platforms. Its avionics and navigation systems support reliable operations in demanding environments where accurate positioning and timing are critical.
The Zacks Rundown for LMTShares of LMT have surged 1.2% in the past year against the industry’s 18.2% decline.
Image Source: Zacks Investment Research
The company's shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.40X compared with its industry’s average of 2.10X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Anduril vyvíjí střelu Steelfin, která má stát zhruba třetinu ceny střely Patriot PAC-3, plnit úkoly podobné systému THAAD a vyrábět se v tisících kusů ročně.
Lockheed Martin stock has come under pressure and is underperforming the broader market this year. It was trading at $509 on Friday, down by 26% from its highest point this year, and this sell-off may continue as Anduril launches a new interceptor missile known as Steelfin.
For many years, the Military Industrial Complex was made up of a handful of companies that dominated the sector. This included top companies like Lockheed Martin, RTX, General Dynamics, Boeing, and Northrop Grumman. These firms had pricing power, allowing them to overcharge the US government and other countries.
Now, the industry is being disrupted by upstarts like Anduril, which is now valued at over $61 billion. Anduril is working on Steelfin, a new line of missile interceptors that will help to counter threats ranging from drones, cruise missiles, ballistic, and hypersonic weapons.
The company notes that the new line will be much cheaper than those offered by Lockheed Martin. It will cost about a third of the Patriot Advanced Capability-3 Missile Segment Enhancement interceptor that costs about $4 million each.
READ MORE: Anthropic and Anduril raise billions as a new era in unicorns starts
Most notably, the company says that the interceptor will have advanced configurations that will see it conduct missions similar to those made by the Terminal High Altitude Area Defense (THAAD).
Anduril plans to manufacture these missiles in its Arsenal-1 plant in Ohio. It plans to launch them in late 2028 or early 2029. Most notably, unlike the current missile interceptors, Anduril will be able to manufacture thousands of these missiles a year.
This is a big threat to Lockheed Martin, which makes billions of dollars making advanced missile interceptors. While its products work well, analysts caution that they are not sustainable in an era when drones and low-cost missiles are being widely used in wars. For example, these missiles are being used to intercept Iranian drones and missiles that cost much less.
This development means that Anduril, which is a well-connected company, will start gaining market share in the interceptor industry. At the same time, it means that Lockheed Martin will need to develop a competing and low-cost product, which may affect its market. Just last week, the company said that it had been selected by the Army to make the next-generation interceptor to replace Patriot.
The most recent results showed that Lockheed Martin made over $18 billion in the second quarter, up modestly from the $17.9 billion it made in the same period last year. Its net earnings, however, dropped to $1.48 billion from the previous $1.7 billion.
Lockheed Martin shares chart | Source: TradingView
The daily chart shows that the LMT stock has slumped in the past few months, moving from the August high of $607 to the current $509. The current price coincides with the lowest level in April, June, and July.
At the same time, the stock has slumped below the 50-day Exponential Moving Average (EMA) and the Supertrend indicator. The Relative Strength Index (RSI) has dropped from the overbought level of 70 to the current 40.
Therefore, the path of the least resistance is downwards. A move below the support level of $494 will point to more downside, potentially to $450.
Lockheed Martin představil střelu PAC-3 Edge k ničení cílů pro program Future Interceptor americké armády; vývoj a testování začnou v roce 2027, nasazení je plánováno na rok 2031.
Next-generation Army interceptor adds cutting-edge capability against hypersonic and advanced missile threats to the Arsenal of Freedom
, /PRNewswire/ -- Today, Lockheed Martin (NYSE: LMT) debuted its new interceptor that will add a revolutionary defensive capability against hypersonic and advanced missile threats. The new interceptor, called PAC-3 Edge™, leverages combat-proven PAC-3® MSE technology and the latest, industry-leading capability to deliver decisive performance against the Army's most critical threats.
THE BIG PICTURE
PAC-3 Edge leverages combat-proven PAC-3 MSE technology and the latest, industry-leading capability to deliver decisive performance against the Army’s most critical threats. Lockheed Martin's new interceptor is part of the U.S. Army's Future Interceptor program currently in competition. The Army's decision to progress Lockheed Martin into the next stage of development affirms its confidence in Lockheed Martin's proven Integrated Air and Missile Defense (IAMD) experience and the company's ability to deliver an advanced, layered defense against what's next.
Lockheed Martin will advance development and begin testing PAC-3 Edge in 2027 to prepare for rapid deployment by 2031.
WHAT'S NEW
PAC-3 Edge delivers the highest level of performance through a transformative Lockheed Martin-built seeker designed by Lockheed Martin's Strigo Product Center. This seeker will feature the most advanced defense technology available, enabling improved performance to counter the most advanced threats. PAC-3 Edge also features a multi-pulse solid rocket motor designed by Northrop Grumman, implementing advanced enhancements to deliver precision thrust throughout the interceptor's flight. Lockheed Martin also implemented control system upgrades to deliver increased PAC-3 EDGE performance at range and altitude.
EXPERT PERSPECTIVE
"Lockheed Martin's PAC-3 Edge interceptor leverages the combat-proven PAC-3 MSE, delivering even greater maneuverability, power and velocity to ensure the Army's layered defensive architecture remains the most advanced in the world," said Tim Cahill, Lockheed Martin, Missiles and Fire Control president.
WHY IT MATTERS
Enhanced Threat Coverage – The new interceptor is designed to counter a wide range of air, missile and hypersonic threats at higher altitudes and longer ranges, expanding the Army's IAMD coverage. Combat-Proven Lineage – PAC-3 Edge builds on the heritage of the PAC-3 family of missiles, which includes the lower cost PAC-3 ACE, legacy PAC-3 CRI and prestigious PAC-3 MSE, offering the most advanced interceptor capabilities to date. New Tech-Driven Capability – Lockheed Martin invested $250M into the Strigo Product Center to fuel new, industry-leading seeker technology that enables increased precision and maneuverability against evolving threats. Layered Defense – The new interceptor complements the Army's existing IAMD capabilities, strengthening a multitiered shield that protects critical assets in the homeland and abroad. Integration through Innovation – PAC-3 Edge is designed to be integrated with existing and future IAMD capabilities including the Integrated Battle Command System (IBCS), the M903 launcher, containerized launchers and HIMARS Flex. About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Lockheed Martin dodá filipínskému letectvu simulátor vrtulníku S-70i Black Hawk, virtuální trenažér údržby a podporu až do roku 2032; jde o první objednávku těchto výcvikových zařízení.
Key Takeaways Lockheed Martin will provide Black Hawk simulators, maintenance training and support through 2032.The deal marks the first order for LMT's S-70i Black Hawk training devices.LMT's 2026 and 2027 EPS estimates show growth of 31.7% and 8.44%, respectively. Lockheed Martin (LMT - Free Report) continues to expand its defense business beyond aircraft manufacturing, with a new contract highlighting the growing role of training and simulation solutions in military modernization.
On Oct. 8, 2026, Lockheed Martin announced that it had signed a Direct Commercial Sale contract with the Philippine Department of National Defense to provide advanced training equipment and services for the Philippine Air Force. The agreement includes an S-70i Black Hawk Full Flight Simulator, a Virtual Maintenance Trainer and associated courseware. The contract also covers sustainment and spare-parts support through 2032.
The Philippines operates Black Hawk helicopters for various missions, including search and rescue, humanitarian assistance, firefighting and troop transport. The full-flight simulator replicates the sights and sensations of flying a Black Hawk, allowing pilots to practice procedures and mission scenarios in a simulated environment. Meanwhile, the Virtual Maintenance Trainer uses detailed, physics-based models of aircraft systems, including hydraulics and avionics, to help maintenance personnel develop technical skills in a risk-free setting.
The contract is also strategically significant because it represents the first order for Lockheed Martin’s S-70i Black Hawk training devices. LMT uses digital-twin technology to replicate aircraft systems and configurations, helping maintain realistic training environments as aircraft capabilities evolve. The agreement could strengthen LMT’s position in the military training market by extending its relationship with customers beyond aircraft procurement into training, maintenance and sustainment.
LMT will continue to train Philippine Air Force Black Hawk pilots at its U.S.-based Sikorsky Training Academy while the country establishes its domestic training capability. This approach supports the transition toward localized training and maintenance operations.
Defense Companies Benefit From Military ModernizationIncreasing defense modernization requirements are creating opportunities for aerospace and defense companies across aircraft manufacturing, mission systems and training technologies. Some industry participants operating in these markets are discussed below:
RTX Corporation (RTX - Free Report) provides advanced defense systems, including missile systems, sensors and other technologies used in military operations. Its broad defense portfolio positions it to participate in modernization programs focused on improving military capabilities.
Northrop Grumman (NOC - Free Report) develops advanced defense technologies spanning aerospace systems, mission solutions and strategic deterrence. Its exposure to complex defense programs provides another example of how military modernization supports demand across the defense industry.
LMT Stock’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates a year-over-year improvement of 31.7% and 8.44%, respectively.
Image Source: Zacks Investment Research
LMT Stock Trades at a DiscountIn terms of valuation, LMT’s forward 12-month price-to-sales (P/S) is 1.40X, a discount to the industry’s average of 2.07X.
Image Source: Zacks Investment Research
LMT Stock’s Price PerformanceIn the past three months, the company’s shares have lost 2% compared with the industry’s 14.8% decline.
Image Source: Zacks Investment Research
LMT’s Zacks RankThe company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin získal od amerického námořnictva smluvní dodatek v hodnotě 209 mil. USD na systémy elektronického boje AN/SLQ-32(V)6; včetně opcí může hodnota kontraktu dosáhnout 1,71 mld. USD.
Key Takeaways Lockheed Martin won a $209M Navy contract modification for AN/SLQ-32(V)6 electronic warfare systems.Options could lift the contract's value to about $1.71B, with work running through September 2029.Navy fleet modernization supports recurring procurement and upgrades for shipboard electronic warfare systems. Lockheed Martin (LMT - Free Report) continues to benefit from the U.S. Navy’s efforts to strengthen electronic warfare capabilities across its surface fleet. The company’s Rotary and Mission Systems business recently received a $209 million contract modification for the production of Surface Electronic Warfare Improvement Program AN/SLQ-32(V)6 systems.
The award includes options that could raise the cumulative value of the contract to approximately $1.71 billion. Work will be performed in Liverpool, NY, and Lansdale, PA, and is expected to be completed by September 2029. The size and duration of the program provide Lockheed Martin with continued visibility into future naval work.
The AN/SLQ-32(V)6 is designed to provide electronic warfare capabilities that help Navy ships detect, identify and respond to electromagnetic threats. Such systems are increasingly important as adversaries develop more advanced radar, communications and electronic attack capabilities.
The award highlights continued Navy investment in shipboard electronic warfare and fleet survivability. Lockheed Martin’s role in producing the AN/SLQ-32(V)6 positions it to benefit from recurring procurement and upgrades as the Navy modernizes its surface fleet.
Demand for electronic warfare systems is expected to remain strong as the Navy improves situational awareness and protects naval platforms from increasingly complex threats. Lockheed Martin’s established expertise in electronic warfare, sensors and mission systems could therefore provide steady opportunities across its naval defense business.
Defense Stocks to Keep on the RadarGrowing investment in electronic warfare and naval survivability could also benefit defense contractors with established capabilities in these areas.
RTX Corporation (RTX - Free Report) : RTX develops advanced electronic warfare, radar and sensor technologies for naval and airborne platforms. Its systems help detect, track and counter electromagnetic threats, supporting the survivability of U.S. and allied forces.
Northrop Grumman (NOC - Free Report) : Northrop Grumman provides electronic warfare and mission systems designed to detect and counter threats across multiple domains. Its expertise in sensors and electromagnetic warfare supports demand for advanced naval defense capabilities.
The Zacks Rundown for LMTShares of LMT have lost 0.9% in the past year compared with the industry’s 19.8% decline.
Image Source: Zacks Investment Research
The company's shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.39X compared with its industry’s average of 2.12X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boeing získal kontrakt v hodnotě zhruba 14,7 miliardy USD od společnosti Lockheed Martin na ztrojnásobení výroby naváděcích hlavic PAC-3 MSE během sedmi let.
The award formalizes a seven-year framework to triple PAC-3 MSE seeker production. Increased production supports the Pentagon's Acquisition Transformation Strategy and strengthens the nation's U.S. Arsenal of Freedom. , /PRNewswire/ -- Boeing [NYSE:BA] was awarded an undefinitized contract action worth approximately $14.7 billion by Lockheed Martin [NYSE: LMT] to scale production and deliver PAC-3® Missile Segment Enhancement (MSE) seekers.
A PAC-3 interceptor with a Boeing-built seeker is fired to intercept a target during testing. (Photo by U.S. Army) The contract award enables Boeing to triple PAC-3 MSE seeker production under the previously announced seven-year framework agreement with the U.S. Department of War in support of its Acquisition Transformation Strategy and to strengthen the nation's Arsenal of Freedom.
Boeing-built seekers enable the most advanced Patriot interceptors to identify, track and engage advanced threats ranging from hostile aircraft to hypersonic, ballistic and cruise missiles.
"Early investment and a relentless focus on quality and execution have positioned us to now deliver seekers at unprecedented levels in the near-term, and we're committed to building on that momentum," said Steve Parker, president and CEO of Boeing Defense, Space & Security. "Our Boeing teammates could not be prouder of the role they play in protecting U.S. and allied service members, civilians and critical infrastructure worldwide."
In addition to recent capital investments to expand its PAC-3 seeker factory, Boeing has strengthened supplier relationships for a more agile, affordable, resilient and scalable supply chain, modernized facilities with cutting-edge technology, and improved processes and controls to increase first-time quality.
Production ramp-up and hiring to support it began earlier this year following the framework agreement announcement, with hundreds of direct and indirect jobs expected to be created in the Huntsville, Alabama, area as a result of the contract.
The production increase supports the U.S. Department of War's focus on strengthening the Arsenal of Freedom and aligns with its Acquisition Transformation Strategy to accelerate delivery of key capabilities to service members.
A leading global aerospace company and top U.S. exporter, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. Our U.S. and global workforce and supplier base drive innovation, economic opportunity, sustainability and community impact. Boeing is committed to fostering a culture based on our core values of safety, quality and integrity.
Lockheed Martin investuje 8 až 9 miliard USD do rozšíření výroby munice ve více než 20 amerických závodech, aby uspokojil rostoucí poptávku v oblasti obrany.
Key Takeaways Lockheed Martin is expanding Black Hawk production and munitions capacity to meet rising defense demand.LMT is investing $8-9 billion across more than 20 U.S. sites to scale munitions production.LMT faces program execution risks, while its 70.08% debt-to-capital ratio remains above the industry average. Lockheed Martin’s (LMT - Free Report) shares have lost 3.8% in the past three months compared with the Zacks Aerospace-Defense industry’s decline of 7.7%. The company’s record backlog, expanding munitions capacity and alignment with U.S. and allied defense priorities support durable growth.
Image Source: Zacks Investment Research
Shares of other defense stocks, such as RTX Corporation (RTX - Free Report) and Boeing (BA - Free Report) , have also underperformed the industry during the three-month period. RTX and Boeing have declined 8% and 8.8%, respectively. The outlook for Boeing’s defense and space business remains encouraging, as it is one of the largest defense contractors globally and a prominent integrator in the International Space Station. Meanwhile, RTX’s defense business remains well-positioned, backed by strong bookings from the Pentagon and foreign allies. It expects defense sales to grow at a high-single-digit rate in 2026, supported by backlog conversion, higher output and favorable program mix.
Considering Lockheed Martin’s current price performance, investors might be left wondering what the next step would be. Let's examine the factors and assess the stock's investment prospects to make an informed decision.
Tailwinds for LMT StockOn Sept. 30, 2026, Sikorsky, a Lockheed Martin company, reached a Novel Production Agreement with the U.S. Army for Black Hawk helicopters. The agreement initially covers 16 Black Hawk aircraft, with deliveries beginning in 2028, and is designed to give the Army flexibility to add aircraft as U.S. requirements and allied Foreign Military Sales demand develop. The Black Hawk already has a large installed base, with more than 5,000 helicopters delivered to over 36 allied nations, making the agreement particularly important for sustaining and expanding the platform's global presence.
On Sept. 29, 2026, Avio USA broke ground on its first U.S. solid rocket motor manufacturing facility in Hurt, Virginia. The approximately 900,000-square-foot facility is expected to produce thousands of solid rocket motors annually for U.S. tactical missile programs. For Lockheed Martin, the facility could strengthen the company's ability to secure a reliable supply of solid rocket motors as demand for missiles and munitions increases.
In September 2026, Lockheed Martin highlighted a new approach to strengthening its defense supply chain as it works to rapidly expand munitions production. The company said it is investing $8-9 billion to scale munitions production across more than 20 U.S. sites, including expanded manufacturing capacity, new facilities, advanced technologies and workforce growth.
Lockheed Martin is also using longer-term, commercial-style agreements with the Department of War for programs including PAC-3 MSE, THAAD, PrSM and JATM, giving the company and its suppliers greater visibility into future demand. The company said these partnerships are already producing measurable improvements, including a more than 130% increase in thermal-battery production capacity over the next six months, a 21% reduction in the cost of scaling that capacity, faster missile-canister sealant curing and the removal of production bottlenecks.
Challenges for LMT StockLockheed remains exposed to cost-estimate and schedule risks on complex programs, especially under fixed-price arrangements. While second-quarter 2026 benefited from the absence of $1.6 billion of prior-year reach-forward losses, execution challenges persisted. In Aeronautics, F-16 and C-130 production issues, lower initial profit booking rates on new contracts and $160 million of lower net favorable profit adjustments weighed on profitability. RMS recognized unfavorable adjustments of $65 million on Heavy Lift and $50 million on Seahawk programs.
Estimates for LMT StockThe Zacks Consensus Estimate for 2026 earnings per share (EPS) indicates year-over-year growth of 31.7%. LMT’s long-term (three to five years) earnings growth rate is 15.13%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for RTX’s 2026 EPS indicates year-over-year growth of 14.8%. RTX’s long-term earnings growth rate is 10.76%. The Zacks Consensus Estimate for Boeing’s 2026 EPS indicates year-over-year growth of 91.5%. BA’s long-term earnings growth rate is 12%.
LMT’s Earnings Surprise HistoryThe company beat on earnings in three of the trailing four quarters and missed in one, delivering an average surprise of 8.85%.
Image Source: Zacks Investment Research
LMT’s Debt PositionCurrently, the company’s total debt to capital is 70.08%, higher than the industry’s average of 46.7%.
Image Source: Zacks Investment Research
LMT Stock Trades at a DiscountIn terms of valuation, LMT’s forward 12-month price-to-sales (P/S) is 1.39X, a discount to the industry’s average of 2.16X. This suggests that the stock is trading at a lower valuation relative to its projected sales growth than its peer group.
Image Source: Zacks Investment Research
What Should an Investor Do Now?Lockheed Martin is strengthening its defense portfolio through new Black Hawk production agreements, expanded solid rocket motor capacity and a more resilient munitions supply chain. These initiatives are designed to support growing U.S. and allied demand, improve production efficiency, reduce supply-chain bottlenecks and accelerate delivery of key defense systems.
Considering its financial pressures and current debt levels, new investors should wait and watch for a better entry point. Investors who already own this Zacks Rank #3 (Hold) stock may consider retaining it, given the company’s earnings growth outlook.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin má rekordní backlog ve výši 230,42 mld. USD a za 23 let po sobě zvýšil dividendu díky zakázkám od americké vlády. Firma ale varuje, že ziskovost mohou rychle poškodit kontrakty s pevnou cenou.
Lockheed Martin has raised its dividend for 23 straight years on the strength of a single customer, but two recent quarters exposed just how quickly that cash cushion can vanish when fixed-price contracts go wrong.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Retirees who hold Lockheed Martin (NYSE:LMT | LMT Price Prediction) for income own a payout funded largely by one customer: the U.S. government. That customer explains why the dividend has grow for 23 consecutive years. It also explains why one weak quarter in 2026 showed how thin the cash buffer can get.
Backlog Is the Real Coverage Ratio A funded backlog that runs for years supports a dividend more reliably than demand that has to be won again every quarter. Lockheed ended Q2 2026 with a record backlog of $230.42 billion after booking $65 billion in new orders. The largest was a $35 billion multi-year THAAD interceptor contract. That backlog covers about 3.07 years of 2025 revenue, which was $75.05 billion. On the Q2 call, the CFO put it simply:
“This deep book of contracts will fuel our sales growth for years to come.”
The cash backs that up. In 2025, free cash flow (the cash left after capital spending) reached $6.91 billion, while dividends cost $3.131 billion. That covered the payout about 2.2 times. Lockheed then raised its 2026 free cash flow guidance to $7.0B to $7.2B.
Q1 2026 Showed How Fast the Cash Can Disappear Free cash flow came in at negative $291 million in Q1 2026, yet Lockheed still paid $816 million in dividends. The quarter carried $125 million in unfavorable F-16 profit adjustments, plus charges on the C-130, CH-53K and Seahawk programs. The same thing happened in Q2 2025: operating cash flow of $201 million fell short of $771 million in dividends after $1.6 billion in losses on fixed-price programs, where Lockheed bears any cost overruns. The chief executive now says that kind of risk is over:
“We’re not doing that anymore. We’re not taking that kind of risk without a counterparty that’s willing to work on a commercial basis right along with us.”
Budget Fights Leave Gaps in the Forecast Lockheed’s 2026 outlook “does not include potential impacts of government shutdown or Executive Orders.” Its filings also flag continuing resolutions, the temporary bills that keep spending flat when Congress misses a budget. Even F-35 volumes still have to get through Congress:
“Now, Congress has to work with the administration to figure out how to budget and fund that.”
Where RTX and Northrop Grumman Stand RTX (NYSE:RTX) has a second source of cash. Of its $271 billion backlog at Q1 2026, $162 billion was commercial aerospace work. Northrop Grumman (NYSE:NOC) has the same exposure Lockheed does: a $104.69 billion backlog and guidance that assumes no extended shutdown. Lockheed’s backlog is more than double Northrop’s, but it lacks the commercial buffer RTX has.
Where the Dividend Goes From Here Relying on one customer helps the dividend over a span of years and hurts it from quarter to quarter. The payout kept growing through two quarters when operating cash fell short of it. The bigger risk is new fixed-price losses arriving while Lockheed spends eight to nine billion dollars to expand munitions production (the warning signs that usually come before a dividend cut are the same ones we catalogued in a free report here: Dividend Traps).
The stock yields 2.68% at $505.47. The quarterly dividend has held at $3.45 since the last increase was declared on October 9, 2025, so the next decision on a raise could come within weeks. Two other things to watch: the multi-year PAC-3 contract management expects in the second half of 2026, and whether Q3 cash flow holds up after Q2’s boost from favorable timing of customer payments.
Contact [email protected] for any questions or corrections.
Finsko převzalo první dvě trvale umístěné stíhačky F-35A od Lockheed Martin, čímž zahájilo novou éru schopností 5. generace. Země už má 10 z objednaných 64 letounů.
, /PRNewswire/ -- The Republic of Finland celebrated the arrival of its first two permanently based F-35A aircraft in country, marking the beginning of a new era of 5th Generation capability for the Finnish Defence Forces.
Finnish Air Force F-35 Lockheed Martin (NYSE: LMT) joined the arrival ceremony, hosted by the Finnish Air Force, alongside senior Finnish government and military leaders, U.S. and allied representatives and industry partners. The ceremony recognized the milestone and Finland's increasingly important role in strengthening security and deterrence across the Nordic region, Europe and the NATO alliance.
"What begins here is the introduction of a 5th Generation system built for the security environment we actually live in," said Major General Timo Herranen, Commander of the Finnish Air Force. "The F-35 was chosen because it is designed for an environment like ours. Flying the F-35, our pilots can do the mission and come home to fly the next round. A 5th Generation aircraft that can see farther but not be seen, share information faster, strike accurately and survive longer is not a luxury here. It is a requirement."
"The arrival of Finland's first F-35 is about far more than a new aircraft—it is about strengthening the nation's ability to deter aggression, defend its sovereignty and secure its future," said OJ Sanchez, President, Lockheed Martin Aeronautics. "As Finland continues to play an increasingly important role in Nordic, European and NATO security, the F-35 will provide a powerful, connected capability that will help the Finnish Defence Forces meet the demands of an evolving security environment. We are proud to stand with Finland as it brings this critical capability home."
Lockheed Martin leads a global F-35 program supported by more than 2,100 suppliers across more than a dozen countries. Chosen by 20 allied nations, including 13 in Europe, the F-35 strengthens interoperability and shared deterrence through seamless collaboration among allied forces.
The program also delivers significant international industrial participation, with 25% by value of every F-35 built produced in Europe and all major F-35 components now manufactured there. Earlier this year, Patria became the first company other than Lockheed Martin to produce the F-35 forward fuselage, underscoring Finland's critical role in the global F-35 enterprise.
With the aircraft arriving in country, Finland has now received 10 of its 64 F-35A aircraft. Eight of these aircraft are temporarily stationed at Ebbing Air National Guard Base, Arkansas, where Finnish pilots and maintainers are conducting training in preparation for the aircraft's continued introduction into Finnish service.
About the F-35 Lightning II
More than 1,375 F-35s are currently operational around the globe, and the fleet has surpassed a million flight hours. The combat-proven F-35 operates from 42 bases worldwide, including 13 nations operating on home soil. As adversaries advance and legacy aircraft age, the F-35 is critical to maintaining air dominance into the future.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Lockheed Martin získal dodatek ke kontraktu za 94,2 mil. USD na práci na systému AEGIS pro Royal Canadian Navy. Práce budou pokračovat do prosince 2027 a financuje je program Foreign Military Sales.
Key Takeaways Lockheed Martin won a $94.2M contract modification for AEGIS work supporting the Royal Canadian Navy.The award funds engineering, software baseline development and integration testing through December 2027.Foreign Military Sales funding underscores Canada's naval defense investment. Lockheed Martin (LMT - Free Report) continues to benefit from international demand for advanced naval combat systems. Its Rotary and Mission Systems business recently received a $94.2 million contract modification from the U.S. Navy to support the continued development and integration of the AEGIS Combat System for the Royal Canadian Navy.
The award provides additional funding for system engineering, computer program baseline development and integration testing of AEGIS Weapon System elements and interfaces. The work will be performed primarily in Moorestown, NJ, and is expected to be completed by December 2027.
AEGIS is a key naval defense system that integrates sensors, weapons, and command-and-control capabilities to help ships detect, track and respond to airborne and surface threats. Continued development and integration work can help ensure the system remains effective against evolving threats.
The contract is being funded through the Foreign Military Sales program, highlighting Canada’s continued investment in advanced naval capabilities. International demand provides Lockheed Martin with opportunities to expand the use of its defense technologies beyond the U.S. market.
The award also adds to Lockheed Martin’s long-term AEGIS-related work and supports its position in the naval defense market. As the United States and its allies continue to modernize naval fleet and strengthen integrated air and missile defense capabilities, demand for advanced combat systems could provide steady opportunities for the company.
Lockheed Martin’s established AEGIS expertise and broad portfolio of naval mission systems position it to benefit from continued investment in maritime defense.
Defense Stocks to Keep on the RadarGrowing investment in naval combat systems and integrated air defense could also benefit other defense contractors with advanced sensor and weapons capabilities.
RTX Corporation (RTX - Free Report) : RTX provides naval radar, missile and sensor technologies used for detecting and countering airborne threats. Its systems support integrated air and missile defense requirements across U.S. and allied fleet.
Northrop Grumman (NOC - Free Report) : Northrop Grumman develops naval sensors, command-and-control systems and electronic warfare technologies. Its solutions support situational awareness and threat detection for advanced maritime defense platforms.
The Zacks Rundown for LMTShares of LMT have risen 2% in the past year against the industry’s 16% decline.
Image Source: Zacks Investment Research
The company’s shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.40X compared with its industry’s average of 2.19X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin a RTX těží z rostoucích obranných rozpočtů a mají rekordní backlogy 230 miliard USD, respektive 289 miliard USD. Lockheed navíc získal sedmiletý kontrakt až za 35 miliard USD na THAAD.
Defense spending worldwide is soaring, driven by ongoing global conflicts, severe weapons stockpile depletion, and rising government funding. The 2027 National Defense Authorization Act proposes $1.1 trillion in defense and national security funding by the U.S., while a $350 billion reconciliation package could push defense spending to nearly $1.5 trillion.
Lockheed Martin (LMT -0.29%) and RTX (RTX -0.08%) are well positioned to benefit from growing defense budgets, thanks to their international presence and crucial air and missile defense businesses. These contracts are seeing backlogs surge from domestic and international orders, providing revenue visibility for years to come. Here's what investors need to know.
An F-35 Lightning II; Image source: Getty Images.
Lockheed Martin is a top defense stock that looks like a bargain Lockheed Martin is an established defense contractor best known for its fighter jets. The F-35 Lightning II stealth fighter accounts for roughly 28% of total revenue and is produced at a rate of about 156 per year.
This helps generate high-volume manufacturing revenue for Lockheed. And these fighter jets will remain in service through at least 2070, providing it with decades of service revenue.
The company is also seeing healthy demand for its tactical missiles and air defense systems. On June 24, the Missile Defense Agency awarded a seven-year contract worth up to $35 billion to quadruple manufacturing rates for its Terminal High Altitude Area Defense (THAAD) system, designed to intercept and destroy ballistic missiles.
Premium Feature
Moneyball Superscore
77/100
Today's Change
(
-0.29
%) $
-1.46
Current Price
$
507.80
Frontline strike platforms are seeing strong demand with multibillion-dollar procurement awards for the Precision Strike Missile, Guided Multiple Launch Rocket System, and launchers for the High Mobility Artillery Rocket System. Lockheed Martin also plays a key role with its U.S. Space Force award to build Space-Based Interceptor prototypes for the Golden Dome missile shield.
The company's backlog is a record $230 billion, and Wall Street analysts have taken notice. UBS recently upgraded Lockheed to a buy rating, and it forecasts that munition and missile volume will drive 9% annual revenue growth through 2028. This comes amid rising global conflicts, notably in Iran and Ukraine, which have severely depleted stockpiles of missiles, counter-drones, and air defense systems.
Despite its strong growth outlook, the stock is down nearly 25% from its 52-week high and is priced modestly at 17 times this year's projected earnings. For investors seeking exposure to growing global defense budgets, the recent dip in Lockheed Martin looks like a smart buying opportunity.
RTX is ramping up production, and its backlog has reached an all-time high RTX, through Raytheon, is another major defense contractor seeing rising demand. Under multiyear agreements with the U.S. Department of War (formerly the Department of Defense), the company is ramping up production of precision munitions, including Tomahawk cruise missiles and air-to-air missiles to at least 1,000 and 1,900 units annually, respectively. RTX is also a key player in the Golden Dome missile defense system, with sensor technologies such as 360-degree radar.
Premium Feature
Moneyball Superscore
77/100
Today's Change
(
-0.08
%) $
-0.15
Current Price
$
185.50
RTX's defense growth isn't limited to domestic sales. International orders make up 48% of Raytheon's $86 billion defense backlog. In the second quarter, Raytheon booked $5 billion in Patriot GEM-T missile interceptor sales, including $3.7 billion to Ukraine and $988 million to Poland.
What differentiates RTX from Lockheed Martin is its balanced business model, making it a powerhouse in both defense and commercial aerospace. The latter is anchored by Pratt & Whitney and Collins Aerospace, which together provide commercial engines, maintenance services, avionics, and flight control systems.
Between strong growth for commercial aftermarket repairs and defense awards, RTX's total backlog is a record $289 billion. Like Lockheed, the stock has fallen 17% from its 52-week high. With shares priced at 23.8 times this year's projected earnings, and with the U.S. and other governments worldwide, RTX is another top defense stock to buy right now.
Americké námořnictvo během pěti měsíců zdvojnásobilo kapacitu pro provoz MQ-25A Stingray po zprovoznění druhé operační řídicí stanice MD-5C s platformou MDCX od Lockheed Martin.
MDCX in the U.S. Navy's Unmanned Air Warfare Center
, /PRNewswire/ -- The U.S. Navy has doubled its fleet capacity to operate the MQ-25A Stingray™ unmanned aircraft system (UAS) over a five-month period, standing up a second operational MD-5C Ground Control Station (GCS) powered by Lockheed Martin Skunk Works® (NYSE: LMT) MDCX™ autonomy platform.
Skunk Works engineers MDCX for the U.S. Navy's MD-5C that is installed in the Unmanned Air Warfare Center (UAWC), the dedicated onboard command center for unmanned carrier aviation.
MDCX in the U.S. Navy's Unmanned Air Warfare Center USS Theodore Roosevelt (CVN 71) received the first operational MD-5C in March 2026, followed by USS Ronald Reagan (CVN 76) in August 2026.
Why it matters
The MD-5C is a highly complex system-of-systems, which includes the government Command, Control, Communications, Computers and Intelligence network, Lockheed Martin's MDCX™ software and hardware, and additional government-produced ancillary equipment. Within the GCS, MDCX is the mission planning and execution software that enables Navy operators to command and control the MQ-25A Stingray, extending carrier air wing reach and freeing manned aircraft for higher-priority missions.
What Our Partners are Saying
"These two operational unmanned air warfare centers aboard CVN 71 and CVN 76 bring us closer to integrating unmanned carrier aviation into the fleet," said Capt. Daniel Fucito, PMA-268 program manager. "Thanks to the incredible work from our joint Navy and Lockheed Martin team, these carriers are ready to fly the MQ-25A. By pairing our unmanned systems with our manned aircraft, we are building a more resilient, adaptable force that is better prepared to win the fight."
A Ready-Now Capability
"MDCX is delivering on the promise of a ready-now, open-architecture command and control platform for the fleet," said Ben Tongue, MDCX Program Manager. "In five months, we've doubled the number of U.S. Navy carriers ready to fly the MQ-25A Stingray. Our team, in close coordination with the Navy, is establishing the command and control backbone for the Carrier Air Wing of the Future."
This install continues a series of MDCX milestones spanning ship, shore and flight test - evidence of proven platform autonomy, multi-platform control and scalable operation footprints built on operationally proven systems and Skunk Works integration expertise.
For additional information, visit our website: MDCX™ command and control platform
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Lockheed Martin při posledním uzavření klesl o 1,14 % na 512,21 USD a za měsíc odepsal 7,68 %. Investoři sledují nadcházející výsledky, čeká se EPS 7,25 USD a tržby 20,35 miliardy USD.
In the latest close session, Lockheed Martin (LMT - Free Report) was down 1.14% at $512.21. The stock's performance was behind the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.09%.
The stock of aerospace and defense company has fallen by 7.68% in the past month, leading the Aerospace sector's loss of 8.98% and undershooting the S&P 500's loss of 0.24%.
The upcoming earnings release of Lockheed Martin will be of great interest to investors. It is anticipated that the company will report an EPS of $7.25, marking a 4.32% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.35 billion, up 9.36% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $30.45 per share and a revenue of $80.82 billion, demonstrating changes of +31.7% and +7.69%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Lockheed Martin. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.19% increase. Lockheed Martin is currently a Zacks Rank #3 (Hold).
Looking at valuation, Lockheed Martin is presently trading at a Forward P/E ratio of 17.02. For comparison, its industry has an average Forward P/E of 23.72, which means Lockheed Martin is trading at a discount to the group.
We can additionally observe that LMT currently boasts a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense was holding an average PEG ratio of 1.69 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 179, placing it within the bottom 28% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Lockheed Martin získal dodatek ke kontraktu na radar za 18,9 mil. USD, čímž se celková hodnota programu zvýšila na zhruba 1,01 mld. USD. Práce budou probíhat v Liverpoolu ve státě New York do června 2029.
Key Takeaways Lockheed Martin's $18.9M radar award raises the program's cumulative value to about $1.01B.Work on the long-range radar program will be performed in Liverpool, NY, through June 2029.Radar demand could support recurring opportunities as the Air Force expands surveillance. Lockheed Martin (LMT - Free Report) continues to strengthen its position in advanced radar and air surveillance systems as the U.S. Air Force invests in capabilities designed to detect and track threats over long distances. The company recently received an $18.9 million contract modification for the Three-Dimensional Expeditionary Long-Range Radar program.
The latest award increases the cumulative face value of the contract to approximately $1.01 billion from $991.3 million. Work will be performed in Liverpool, NY, and is expected to be completed by June 2029, providing Lockheed Martin with continued program visibility.
Three-dimensional long-range radar systems are designed to provide detailed information on the location, altitude and movement of airborne objects. Such capabilities are important for strengthening air surveillance and supporting timely responses to aircraft, missiles and other potential threats.
The contract also highlights continued demand for mobile and expeditionary radar capabilities that can support military operations in different environments. As the Air Force works to improve detection and tracking capabilities against increasingly complex threats, advanced radar systems are expected to remain an important area of defense investment.
Lockheed Martin’s established expertise in radar, sensors and integrated mission systems positions it to benefit from these requirements. Continued awards and modifications under the program could provide recurring opportunities as the Air Force expands and sustains its long-range surveillance capabilities.
Defense Stocks to Keep on the RadarGrowing demand for advanced radar and air surveillance capabilities could also benefit other defense contractors with established sensor portfolios.
RTX Corporation (RTX - Free Report) : RTX develops advanced radar and sensor technologies for air defense and surveillance applications. Its portfolio includes systems designed to detect, track and identify airborne threats across different operating environments.
Northrop Grumman (NOC - Free Report) : Northrop Grumman provides advanced radar and sensor systems for air and missile defense. Its expertise in long-range surveillance and integrated sensing supports demand for technologies that improve threat detection and situational awareness.
The Zacks Rundown for LMTShares of LMT have risen 5.3% in the past year against the industry’s 14.7% decline.
Image Source: Zacks Investment Research
The company's shares are trading at a discount on a relative basis, with its forward 12-month Price/Sales being 1.43X compared with its industry’s average of 2.19X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Lockheed Martin Corporation (NYSE:LMT – Get Free Report) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $637.56.
A number of research analysts have weighed in on LMT shares. Weiss Ratings lowered Lockheed Martin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Jefferies Financial Group reiterated a “hold” rating on shares of Lockheed Martin in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, UBS Group raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $581.00 to $674.00 in a research note on Tuesday, September 8th.
Read Our Latest Stock Analysis on Lockheed Martin
Lockheed Martin News Summary Here are the key news stories impacting Lockheed Martin this week: Positive Sentiment: Lockheed Martin received a $1.2 billion U.S. Army contract for its Precision Strike Missile, providing a potentially meaningful production and backlog catalyst as the company expands its missile portfolio. A $1.2 Billion Reason to Buy Lockheed Martin Stock Positive Sentiment: Lockheed committed $10 million to help launch Canada’s integrated defense ecosystem, while Mexico expanded its C-130J Super Hercules fleet and Germany reached an F-35A delivery milestone. The developments reinforce international demand for Lockheed’s aircraft and defense systems. Lockheed Martin Puts $10 Million Into Canada As Global Defense Deals Build Positive Sentiment: Multiyear Pentagon framework agreements with Lockheed Martin and General Dynamics aim to substantially increase PAC-3 MSE and THAAD interceptor production, supporting the long-term missile-defense backlog. Could Lockheed Martin’s Missile Defense Boom Give It an Edge Over General Dynamics? Positive Sentiment: Recent commentary argues that strong demand, defense restocking and Lockheed’s backlog may leave LMT undervalued, potentially improving sentiment if contract awards translate into higher earnings. Lockheed Martin Looks Undervalued in a Long Restocking Cycle Lockheed Martin Price Performance Shares of Lockheed Martin stock opened at $519.07 on Friday. The business has a 50 day simple moving average of $557.59 and a two-hundred day simple moving average of $556.67. Lockheed Martin has a 12 month low of $437.25 and a 12 month high of $692.00. The stock has a market capitalization of $119.80 billion, a P/E ratio of 19.13, a PEG ratio of 1.14 and a beta of 0.10. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The firm had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, analysts predict that Lockheed Martin will post 30.44 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st were issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 1st. Lockheed Martin’s payout ratio is currently 50.87%.
Hedge Funds Weigh In On Lockheed Martin A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. QRG Capital Management Inc. boosted its position in shares of Lockheed Martin by 0.6% during the 2nd quarter. QRG Capital Management Inc. now owns 13,021 shares of the aerospace company’s stock valued at $6,634,000 after acquiring an additional 80 shares during the last quarter. State Street Corp grew its holdings in shares of Lockheed Martin by 1.3% in the second quarter. State Street Corp now owns 32,975,170 shares of the aerospace company’s stock valued at $16,799,530,000 after purchasing an additional 419,582 shares during the period. Silicon Valley Capital Partners increased its position in Lockheed Martin by 2.6% during the second quarter. Silicon Valley Capital Partners now owns 1,371 shares of the aerospace company’s stock worth $699,000 after purchasing an additional 35 shares during the last quarter. Wellington Altus USA Inc. acquired a new stake in Lockheed Martin during the second quarter worth about $199,000. Finally, U S Wealth Group LLC. raised its stake in Lockheed Martin by 14.8% during the second quarter. U S Wealth Group LLC. now owns 7,555 shares of the aerospace company’s stock worth $3,849,000 after purchasing an additional 973 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.
Lockheed Martin Company Profile (Get Free Report)
Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
The company’s products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.
Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.
Recommended Stories Five stocks we like better than Lockheed Martin Costco Ends Its Fiscal Year on a High Note, Eyes Big Expansion Cracker Barrel Stock Is Rallying Again, But the Turnaround Still Has a Traffic Problem Oracle’s Force Majeure Notice Exposes a Bigger Problem for the AI Build-Out Oil May Be Stronger Than It Looks—And Diamondback Is on Sale
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Lockheed Martin zvýšil svůj backlog na rekordních 230 miliard USD po objednávkách za 65 miliard USD ve 2. čtvrtletí roku 2026. Tržby divize Missiles and Fire Control vzrostly o 19 %.
Key Takeaways Lockheed Martin's backlog reached $230 billion after $65 billion of second-quarter orders.LMT's missile sales rose 19% as PAC-3, THAAD and PrSM production increased in 2026.L3Harris is expanding space sensing and missile defense while streamlining its portfolio. Lockheed Martin (LMT - Free Report) and L3Harris Technologies (LHX - Free Report) are two major U.S. defense companies, but they have different business profiles and exposure across the defense industry.
Lockheed Martin is the larger and more diversified of the two, with major exposure to fighter aircraft, missiles, missile defense, helicopters, space systems and other defense platforms. Its portfolio includes programs such as the F-35, F-16, C-130J, THAAD and various space systems. L3Harris has a different portfolio emphasis, focusing more heavily on communications, electronic warfare, sensing, space systems, missile technologies and mission systems.
The companies also provide different exposure to the changing nature of warfare. LMT is more closely tied to major defense platforms and weapons systems, including advanced aircraft, missile defense and strategic systems. LHX is more concentrated in the technology layer of defense, including secure communications, electronic warfare, sensors, space-based capabilities and networking.
Let's compare the stocks' fundamentals to determine which one is better positioned at present.
Tailwinds for LMT StockLockheed Martin is converting elevated demand into longer-duration awards that improve revenue visibility and support capacity planning. Backlog reached a record $230 billion as of June 28, 2026, following $65 billion in second-quarter orders and a 3.2 book-to-bill ratio. The total includes a seven-year, $35 billion contract to quadruple THAAD interceptor production, alongside new GMLRS, HIMARS, radar and space awards.
LMT’s portfolio is focused on areas benefiting from increased funding and procurement priority, including munitions, integrated air and missile defense, hypersonics, space-based interceptors and counter-drone systems. Missiles and Fire Control sales rose 19% in the second quarter of 2026 as PAC-3, THAAD and PrSM production increased, while segment profit advanced 24%. The company is also expanding facilities in Alabama and Florida and investing ahead of awards to increase production capacity.
Tailwinds for LHX StockL3Harris’ space sensing and missile franchises remain aligned with Golden Dome, missile defense and hypersonic tracking initiatives. Second-quarter 2026 orders totaled $7.3 billion, producing 1.2x book-to-bill and lifting backlog to a record $42 billion from $40.7 billion at the end of the first quarter of 2026. The company has secured $2.4 billion of new space contracts since fourth-quarter 2025 and sees a $9 billion pipeline across missile warning, missile defense and classified missions.
The company continues to refine its portfolio around core defense priorities while integrating prior acquisitions. In August 2026, the company completed the sale of a majority stake in its commercial space propulsion, power and electronics businesses to AE Industrial Partners for an enterprise value of $845 million. L3Harris plans to use the proceeds to invest in facilities and advanced technologies to meet growing demand. Management has also completed the implementation phase of its LHX NeXt initiative and is increasing investments in innovation and capacity, which could support operating leverage as new programs ramp up.
How Do Zacks Estimates Compare for LMT & LHX?The Zacks Consensus Estimate for Lockheed Martin’s 2026 and 2027 earnings per share (EPS) indicates an increase of 31.7% and 8.44%, respectively. LMT’s long-term (three to five years) earnings growth rate is 15.13%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for L3Harris’ 2026 and 2027 EPS indicates an increase of 9.79% and 14.44%, respectively. LHX’s long-term earnings growth rate is 13.19%.
Image Source: Zacks Investment Research
Valuation for LMT & LHXLockheed Martin’s shares trade at a forward 12-month Price/Sales (P/S F12M) of 1.45X compared with L3Harris’ 1.80X.
Image Source: Zacks Investment Research
Liquidity of LMT & LHXLockheed Martin and L3Harris’ current ratio is 1.19 and 1.18, respectively. A current ratio greater than one indicates that the company has enough short-term assets to liquidate to cover all short-term liabilities, if necessary.
LMT & LHX’s Price PerformanceIn the past three months, shares of Lockheed Martin have increased 6.8%, while those of L3Harris have declined 16.7%.
Image Source: Zacks Investment Research
LMT or LHX: Which Is a Better Choice Now?Lockheed Martin is converting strong defense demand into longer-term contracts, improving revenue visibility and supporting capacity expansion across key programs. Its portfolio focuses on high-priority areas such as munitions, missile defense, hypersonics, space systems and counter-drone technologies, while the company continues investing to expand production capacity. L3Harris is expanding its exposure to space sensing, missile defense and hypersonic tracking while building a growing pipeline of new defense programs. LHX is also streamlining its portfolio and redirecting resources toward advanced technologies, facilities and capacity expansion to support future program growth.
Our choice at the moment is Lockheed Martin, given its better price performance, stronger near-term earnings growth and slightly better liquidity than L3Harris. LMT carries a Zacks Rank #2 (Buy) and LHX has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin zvýšil výhled tržeb segmentu MFC na 16,5–16,9 miliardy USD díky vyšším objemům u PAC-3, THAAD a PrSM. Ve 2. čtvrtletí tržby MFC vzrostly o 19 % na 4,1 miliardy USD.
Key Takeaways Lockheed Martin's MFC sales rose 19% as PAC-3, THAAD and PrSM volumes increased.THAAD helped drive Lockheed Martin's backlog to $230.4 billion by June 28, 2026.MFC's 2026 sales outlook increased to $16.5-$16.9 billion on higher program volumes. Lockheed Martin’s (LMT - Free Report) Missiles and Fire Control (“MFC”) segment is becoming an important contributor to the company’s current growth. Second-quarter 2026 MFC sales increased 19% year over year to $4.1 billion, while segment operating profit increased 24% to $594 million. The company attributed the sales increase primarily to higher volumes on the PAC-3, THAAD and PrSM programs.
THAAD is particularly important to Lockheed Martin’s backlog expansion. The company's backlog reached $230.4 billion as of June 28, 2026, marking an increase of $36.8 billion during the first six months of the year. Lockheed Martin said the increase was primarily driven by an undefinitized contractual action awarded for the THAAD program within MFC.
THAAD is therefore contributing to both current production and future revenue visibility. The program also sits alongside PAC-3 and PrSM, giving MFC several missile programs contributing to the segment's growth rather than relying on a single platform.
LMT increased its full-year 2026 outlook across all four business segments. For MFC, the company now expects 2026 sales of $16.5-$16.9 billion compared with its previous April outlook of $16.1-$16.9 billion. It expects MFC operating profit of $2.3 billion to $2.35 billion. The company said the higher sales outlook reflects higher volumes on PAC-3, THAAD and PrSM.
The broader portfolio also provides additional growth opportunities. Aeronautics sales are expected to benefit from higher F-35 production volume, while Space expects increased volume on the Next Generation Interceptor and Fleet Ballistic Missile programs. Rotary and Mission Systems is also expecting growth from a Sikorsky production ramp up and new radar awards.
Companies Benefiting From Missile & Defense ModernizationAlong with LMT, few other companies are also positioned to benefit from the same trend, as discussed below:
RTX Corporation (RTX - Free Report) : RTX has exposure to missile defense through Raytheon, including systems and interceptors used across air and missile-defense programs. Its portfolio also spans sensors, radars and other defense technologies.
Northrop Grumman (NOC - Free Report) : Northrop Grumman participates in missile defense, space and strategic systems, giving it exposure to government demand for integrated defense and next-generation security capabilities.
LMT Stock’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates a year-over-year improvement of 31.7% and 8.44%, respectively.
Image Source: Zacks Investment Research
LMT Stock Trades at a DiscountIn terms of valuation, LMT’s forward 12-month price-to-sales (P/S) is 1.44X, a discount to the industry’s average of 2.27X.
Image Source: Zacks Investment Research
LMT Stock’s Price PerformanceIn the past three months, the company’s shares have risen 3.8% against the industry’s 8.8% decline.
Image Source: Zacks Investment Research
LMT’s Zacks RankThe company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Despite being one of the most recognizable names in the U.S. military-industrial complex at a time when the nation is fighting a war, Lockheed Martin (NYSE: LMT) stock has underperformed the major market indices so far in 2026.
Still, the company has maintained stability in its relatively generous annual dividend yield of 2.58% and is scheduled to make its next payment on Friday, September 25.
As in every quarter since late 2025, LMT stockholders can expect to receive a substantial $3.45 for each share they own as long as they owned equity by September 1 – the relevant ex-dividend date.
Thus, owning 100 Lockheed Martin shares would have led to being paid $345 on Friday. Notably, such a payday would have – with LMT closing at $561.23 on August 31 – required a $56,123 investment.
Similarly, with the defense giant changing hands at $536.54 in the Tuesday pre-market, investors would need to put roughly $53,654 to expect an approximately equal payment when the year’s final dividend arrives.
Meanwhile, the former CEO, Chairman, and President Robert J. Stevens – generally reported as the company’s biggest stockholder – can expect approximately VALUE for his 208,337 Lockheed Martin shares.
Lockheed Martin stock price performance in 2026 Elsewhere, looking at the 2026 stock market, LMT stock has, so far, experienced two strong rallies that took it approximately 36% higher in February and March, and 20% higher in August, but has also failed to retain the gains from either.
Indeed, Lockheed Martin is, on the year-to-date (YTD) chart, up only 7.71% at its latest closing price of $535.40.
Lockheed Martin stock price YTD chart. Source: Google Still, the company appears poised to experience a resurgence later in 2026 or in 2027.
Whether President Donald Trump is to be believed about U.S. weapon stockpiles overflowing or not, it is undeniable that the country – as well as the E.U. – is undergoing a significant expansion in arms production and procurement.
Under the circumstances and with Lockheed Martin securing – among others – a $1.2 billion missile contract as recently as Monday, September 22, both the company and its stock appear poised for strong growth in the near future.
Featured image via Shutterstock
Best Crypto Exchange for Intermediate Traders and Investors
Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.
30+ million Users worldwide
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD
Join Finbold's newsroom, become a Sales Executive today! Apply now to join Finbold as a crypto/finance news writer!
Lockheed Martin získal modifikaci smlouvy za 76,6 mil. USD na vývoj programu prodloužení životnosti střely Trident II D5LE2 do září 2030. Program podporuje modernizaci strategických balistických střel amerického námořnictva.
Key Takeaways Lockheed Martin is supporting the Trident II D5 missile life extension as the Navy modernizes capabilities.A $76.6M contract modification supports D5LE2 design and development work through September 2030.LMT's Trident II role and missile expertise support long-term modernization opportunities. Lockheed Martin (LMT - Free Report) is strengthening its position in strategic missile systems as the U.S. Navy continues to modernize its ballistic missile capabilities. Through its Space business, the company is supporting the life extension of the Trident II (D5) missile, a key component of the U.S. strategic deterrence system.
Lockheed Martin recently received a $76.6 million contract modification for advanced design and development work under the Trident II D5 Life Extension 2 (D5LE2) program. The award supports continued development of upgrades designed to extend the missile system’s service life and maintain its capabilities over the long term. Work under the modification is expected to continue through September 2030.
The program highlights the long-term nature of demand for strategic missile modernization as the U.S. Navy seeks to maintain a reliable and effective sea-based deterrent. Continued investment in ballistic missile life-extension programs should support demand for Lockheed Martin’s engineering, development and production capabilities.
Lockheed Martin’s established role in the Trident II program also provides it with significant expertise in strategic missile technologies. This positions the company to benefit from ongoing modernization efforts as the U.S. government focuses on maintaining and upgrading critical strategic systems.
With sustained investment in ballistic missile modernization and its established position in the Trident II program, Lockheed Martin is well-positioned to benefit from long-term demand for advanced strategic missile capabilities. The company’s involvement in major life-extension efforts should also provide greater visibility into future opportunities in this market.
Defense Stocks to Keep on the RadarOther defense companies benefiting from demand for advanced missile and strategic defense systems are discussed below:
General Dynamics (GD - Free Report) : General Dynamics provides strategic weapon systems, submarine technologies and fire-control capabilities for the U.S. Navy. Its role in submarine modernization positions it to benefit from continued investment in strategic deterrence.
RTX Corporation (RTX - Free Report) : RTX develops advanced missile, propulsion and guidance technologies for U.S. and allied defense programs. Continued investment in missile modernization should support demand across its defense portfolio.
The Zacks Rundown for LMTShares of LMT have risen 11.1% in the past year against the industry’s 13.8% decline.
Image Source: Zacks Investment Research
The company's shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 16.51X compared with its industry’s average of 29.17X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin začne na vlastní náklady stavět čtyři další stealth drony Vectis, i když je americké letectvo zatím neobjednalo. První kus už vzniká a první let se čeká na konci roku 2027.
For Lockheed Martin (LMT -0.37%), the bad news arrived in June. The U.S. Air Force had just announced contracts to build new "Collaborative Combat Aircraft" -- CCA, the drone warplanes that will fly in support of piloted fighter jets -- naming two companies as winners.
Lockheed Martin was neither of them.
Good news for Anduril and General Atomics -- and others In fact -- and bad news for defense stock investors -- no publicly traded defense stocks won CCA contracts. Instead, the Pentagon gave its awards to two privately owned companies, Anduril Industries and General Atomics.
In a twist, the Pentagon decided to award CCA contracts in two parts, however. Anduril and GA will build the FQ-42 and FQ-44 (respectively) drones, but the software needed to run the drones will be "sold separately" -- and awarded in separate contracts.
Anduril won one such software contract for autonomy software, as did both AI specialist Shield AI and traditional defense contractor RTX (RTX -0.49%). Six companies were put on a separate list of vendors for other drone software: Anduril, General Atomics, RTX, Shield AI, Lockheed Martin, and Northrop Grumman (NOC -1.41%). Further CCA software contracts are expected to roll out later this year.
On the face of it, this all still sounds like bad news for Lockheed. On one hand, yes, the company has a chance of winning a CCA software contract because it's on the list of potential vendors. On the other, it's competing with five other companies for this work, so success is not guaranteed.
Plus, for now at least, Lockheed Martin looks shut out of the competition to do what it does best: build the actual CCA fighter jets themselves. Except it turns out that Lockheed Martin is going to build them anyway.
Lockheed Martin still has high hopes On Monday, Lockheed Martin's Skunk Works division announced that -- contract or no contract -- it's going ahead and building four more Vectis stealth drone fighters. This is in addition to the first Vectis drone that's already under construction (with first flight expected in late 2027).
According to Lockheed, Vectis will be a Group 5 drone similar in size to the General Atomics MQ-9 Reaper. It will be designed to operate either in cooperation with fifth-generation fighters like the F-35 Lightning II or independently and can perform surveillance, counter air, and strike missions -- so it will be an armed drone. It will be stealthy, compatible with other companies' autonomy software, and "affordable," to encourage mass purchases by the Air Force.
The only trick: Somehow, they have to get the Air Force to buy it when Vectis isn't even on the shopping list!
Premium Feature
Moneyball Superscore
78/100
Today's Change
(
-0.37
%) $
-1.99
Current Price
$
531.39
What's next for Lockheed Martin? Not deterred by this little detail, Lockheed is so confident the Air Force will eventually want Vectis that it is paying for Vectis's development itself. (The hope is that after the USAF buys Anduril's or General Atomics' CCA offering initially, it will open the competition wider in subsequent competitions to build these drones.)
That's a risky move.
About a decade ago, in the middle of the Global War on Terror, defense company Textron (TXT +0.20%) tried a similar gambit, building an off-the-shelf combat jet called Scorpion "on spec," and then trying to find buyers for it. Textron never did find a buyer.
Ultimately, after spending "many millions of dollars in design and development," Textron had to eat the cost of Scorpion. The good news is that if Lockheed Martin suffers a similar fate with Vectis, well, at least the company is in a healthy financial state to absorb such a loss.
Over the last 12 months, the defense giant reported $6.3 billion in net profits and generated $8.7 billion in positive free cash flow -- 38% more than its reported profits. Valued at just over $123 billion in market capitalization, Lockheed sells for barely 14 times FCF. Yet analysts polled by S&P Global Market Intelligence expect Lockheed to grow its earnings better than 19% annually over the next five years.
With a price-to-free cash flow-to-growth ratio of only 0.7 and paying its shareholders a 2.6% annual dividend, Lockheed Martin today looks like one of the best values in defense. Would Lockheed be an even better bargain if it wins hundreds of millions of dollars in CCA contracts from the Air Force? Absolutely.
But Lockheed Martin stock can also do just fine without CCA.
The US Department of State said on Thursday it has approved the potential sale of Lockheed Martin's (LMT.N) F-35 Lightning II fighter jets to Saudi Arabia, as the kingdom is drawn deeper into war in the Middle East.
A sale would mark a significant policy shift from the US, potentially altering the balance of military power in the Middle East and testing Washington's definition of maintaining its ally Israel's "qualitative military edge."
Saudi Arabia made a direct appeal for the jets in early 2025 to US President Donald Trump and has long been interested in Lockheed Martin's fighter.
The estimated $24.3 billion sale would include 48 of the military aircraft and 49 Pratt & Whitney (RTX.N) engines along with communications equipment, spare parts and other support items, the State Department said.
Washington weighs weapons sales to the Middle East in a way that ensures Israel maintains a "qualitative military edge", effectively guaranteeing that Israel gets more advanced US weapons than regional Arab states.
The F-35, built with stealth technology that allows it to evade enemy detection, is considered the world's most advanced fighter jet. Israel has operated the aircraft for a decade, building multiple squadrons, and remains the only Middle Eastern country to possess the weapons system.
Saudi Arabia, the largest customer for US arms, has sought the fighter for years as it looks to modernize its air force and counter regional threats, particularly from Iran. The kingdom's renewed push for what would constitute two squadrons comes as the Trump administration has signaled openness to deepening defense cooperation with Riyadh. The Saudi Air Force flies a mix of fighter aircraft including Boeing (BA.N) F-15s, European Tornados and Typhoons.
The F-35 issue has also been intertwined with broader diplomatic efforts. The administration of former US President Joe Biden previously explored providing F-35s to Saudi Arabia as part of a comprehensive deal that would have included Riyadh normalizing relations with Israel, though those efforts ultimately stalled.
Trump has made arms sales to Saudi Arabia a priority since returning to office. In 2025, the United States agreed to sell the kingdom an arms package worth nearly $142 billion, which the White House called "the largest defense cooperation agreement" Washington has ever done.
Congressional scrutiny could pose challenges to any F-35 sale. Lawmakers previously questioned arms deals with Riyadh following the 2018 murder of Saudi journalist Jamal Khashoggi, and some members of Congress remain wary of deepening military cooperation with the kingdom.
Saudi Arabia is pursuing ambitious economic and military modernization plans under Crown Prince Mohammed bin Salman's Vision 2030 agenda. The kingdom has sought to diversify its defense partnerships in recent years while maintaining its decades-long security relationship with Washington.
Lockheed Martin chce spojit špičkové zbraňové systémy s levnějšími autonomními a protidronovými technologiemi a stát se „mission integrator“. Firma zároveň plánuje ztrojnásobit výrobu PAC-3 a zčtyřnásobit výrobu THAAD.
IBM and Lockheed Martin Turn a Swiss Defense Deal Into a Quantum Computing BetLockheed Martin NYSE: LMT Chief Executive Officer Jim Taiclet outlined the defense contractor’s strategy to combine high-end weapons platforms with lower-cost autonomous and counter-drone systems, positioning the company as a “mission integrator” rather than solely a maker of individual defense products.
Speaking at a Morgan Stanley aerospace and defense panel, Taiclet said Lockheed Martin’s role is evolving from systems integration—connecting platforms such as the F-35 fighter and advanced missiles—to integrating technologies across broader military missions. He said the company is using “mission technology roadmaps” to update capabilities through digital technologies on a recurring basis rather than relying only on new platforms or government requests for proposals.
Get Lockheed Martin alerts:
3 Under-the-Radar Defense Stocks With Record BacklogsTaiclet highlighted the U.S. government’s newly announced long-term, multiyear agreement for the Joint Advanced Tactical Missile, or JATM/AIM-260, an air-to-air missile that he said has not yet entered full-rate production. The missile is designed to integrate with the F-35 and F-22 aircraft.
Counter-Drone Strategy Combines Existing Weapons and New Technology Taiclet said the conflict in Ukraine demonstrates the importance of both high-end capabilities and systems designed to counter lower-cost drones. He argued that the persistence of trench warfare reflects neither side achieving air superiority, while noting that building offensive drones is technically easier than finding, identifying and defeating large numbers of them.
RTX Stock Gets a Radar Lock on a $23B Navy WinLockheed Martin has developed counter-unmanned aircraft systems that combine existing weapons, command-and-control capabilities and directed-energy technology, according to Taiclet. One system, called GRIZZLY, repurposes Hellfire missiles—historically used as air-to-ground weapons from helicopters—into ground-to-air weapons intended to engage drones.
The company has also developed a vertical-takeoff unmanned aircraft equipped with sensors and a high-power microwave system, Taiclet said. The system is intended to identify enemy drones and disable their electronics. He said the aircraft can engage up to 50 targets on one battery charge before returning for recharging.
These systems are linked through Lockheed Martin’s Sanctum command-and-control architecture, which Taiclet said is designed to identify threats and determine how to allocate available interceptors and directed-energy systems. Lockheed Martin has incorporated radar technology from Radar, a startup in which it has invested, to provide a more transportable radar option for forward locations.
Taiclet said the company is testing and deploying GRIZZLY systems with Saildrone autonomous ocean vehicles. Lockheed Martin also plans to place a Mk 70 launcher, capable of carrying larger missiles, on a Saildrone vessel.
“Our product is deterrence,” Taiclet said, arguing that the company’s systems are intended to create military advantages at theater scale across regions such as the Pacific, Europe and the Middle East.
Long-Term Agreements Support Production Expansion Chief Financial Officer Evan Scott said Lockheed Martin has now signed four “Heads of Agreement,” or HOAs, with the Department of Defense: PAC-3, THAAD, Precision Strike Missile, or PrSM, and JATM. Scott said the company reported seven years of THAAD backlog in the second quarter and expects to report the full seven-year PAC-3 backlog in the third quarter.
According to Scott, the agreements provide customers with longer-term certainty on deliveries and pricing while allowing Lockheed Martin to make longer-range production, staffing and facility investments. He said the fast-growing munitions business is also the company’s highest-margin business.
Lockheed Martin expects to triple annual PAC-3 production. The company expects to quadruple THAAD production. Taiclet said Lockheed Martin expects to build 2,000 PAC-3 units next year and is targeting output above that level over time. The company has cited $8 billion to $9 billion in capital investment through 2030 to support increased munitions production. Scott said the planned investment includes new capacity, facilities and tooling, as well as obsolescence planning and additional mid-tier supplier capacity. The HOAs include cash-neutrality provisions that are intended to protect near-term cash flow as production converts into deliveries, he said.
Taiclet identified the supply chain as Lockheed Martin’s largest risk in scaling production. He said longer-term subcontracts can give suppliers greater confidence to invest in automation and capacity because they have visibility into multiyear demand.
Margins, Backlog and AI Priorities On 2026 profitability, Scott said Lockheed Martin expects full-year margins to remain in line with its guidance, though quarterly results may be uneven because the third quarter may not include the same level of risk retirements as the second and fourth quarters.
He said the company sees longer-term margin opportunities as certain dilutive programs roll off. Scott cited strong underlying performance in F-35 production, space operations, missile and fire-control programs, aeronautics programs including F-16 and C-130, and Rotary and Mission Systems businesses.
Taiclet said the timing of congressional budgets or continuing resolutions does not materially affect Lockheed Martin’s existing business because nearly all expected 2027 revenue is already funded through backlog. However, he said delays can slow innovation and the launch of new programs or additions to existing programs.
Looking ahead, Taiclet said his primary focus is ensuring that autonomy and artificial intelligence are incorporated effectively across Lockheed Martin’s mission technology roadmaps. He cited the company’s Vectis collaborative combat aircraft effort, describing it as a stealthy aircraft roughly the size of an F-35 that could carry significant weapons payloads and operate at long ranges alongside platforms including the F-22, F-35, B-2 and B-21.
About Lockheed Martin (NYSE:LMT)Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
The company's products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.
Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Lockheed Martin Right Now?Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Lockheed Martin oznámil první dodávku klíčových komponent pro střelu PAC-3 MSE od GM Defense méně než měsíc po podpisu smlouvy. Firma to označila za 22denní zrychlení výroby.
Partnership underscores American manufacturing expertise
, /PRNewswire/ -- Lockheed Martin (NYSE: LMT) today announced the first delivery of mission-critical components produced by GM Defense for the PAC-3 Missile Segment Enhancement (MSE) interceptor missile less than one month after a formal contract between the two companies was signed.
Lockheed Martin fast-tracks PAC-3 MSE components in less than one month in partnership with GM Defense. The rapid delivery from GM Defense to Lockheed Martin of components that can traditionally take months to years to produce underscores the effectiveness of defense and commercial partnerships — demonstrating how they can be leveraged to accelerate production, strengthen America's defense industrial base and build the Arsenal of Freedom.
EXPERT PERSPECTIVE
"This extraordinary 22‑day turnaround underscores Lockheed Martin's relentless focus on execution – delivering for our troops faster, with greater capacity," said Tim Cahill, president, Lockheed Martin Missiles and Fire Control. "Our partnership with GM Defense is a concrete example of how we're merging world-class commercial manufacturing with defense supply chain and production practices and rapidly translating that into battlefield readiness for the United States."
"We're proud to support production of this country's critical defense capabilities. Our partnership with Lockheed Martin leverages GM's precision-fabrication expertise and ability to manufacture with quality at scale. We look forward to putting these strengths to work in support of our nation's security and the people who protect it," Stephen duMont, President and CEO, GM Defense.
WHY IT MATTERS
Lockheed Martin is moving with wartime urgency to deliver the Arsenal of Freedom, partnering with Department of War leadership to leverage commercial-style contracts for PAC-3 MSE, THAAD and PrSM. The company is investing $8-9B to scale munitions production, with new buildings, expansions and thousands of jobs at more than 20 sites across America. In fact, production and warehousing space for munitions production will increase almost 50% after planned expansions.
ADDITIONAL CONTEXT
22-Day Cycle: Lockheed Martin and GM Defense signed a formal contract agreement Aug. 6, and the first batch of initial PAC-3 MSE housing components was delivered Aug. 28. Commercial-Grade Precision: GM Defense leveraged its advanced casting and machining capabilities to meet exacting defense specifications. Long-Term Partnership: Both companies plan to build on this foundation, applying commercial practices across munitions programs and expanding capabilities for future defense systems to protect America and its allies. About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Lockheed Martin uzavřel rámcovou dohodu s americkým ministerstvem obrany o rychlém navýšení výroby a dodávek střely AIM-260 JATM. Dohoda je základem pro víceletý kontrakt po schválení Kongresem.
, /PRNewswire/ -- Lockheed Martin (NYSE: LMT) signed a framework agreement with the U.S. Department of War to rapidly accelerate the production and delivery of the AIM-260, Joint Advanced Tactical Missile (JATM).
WHY IT MATTERS
JATM is the most sophisticated air dominance missile, capable of deterring and defeating current and projected enemy air threats. This state-of-the-art weapon has increased range and effectiveness over existing air-to-air weapons and provides an asymmetric advantage to the joint force. JATM is compatible with a variety of Air Force and Navy aircraft including the F-22 Raptor and F-35 Lightning II, making it a highly versatile combat system.
EXPERT PERSPECTIVE
"This agreement builds on years of collaboration to deliver this critical air dominance capability to the warfighter," said Tim Cahill, president, Lockheed Martin Missiles and Fire Control. "We will deliver JATM at the speed our nation and allies demand while providing value for taxpayers and our shareholders."
ADDITIONAL CONTEXT
Internal Investment: JATM is produced by Lockheed Martin in partnership with the U.S. Air Force and U.S. Navy. Lockheed Martin will support necessary investments to drive the production increase under this agreement. Multiyear Procurement: This agreement forms the foundational agreement for a multiyear procurement contract, pending Congressional approval, that provides long-term demand to strengthen and expand the defense industrial base for the program. Global Deterrence: Australia recently announced a nearly $736 million investment to equip the Royal Australian Air Force with JATM. This agreement strengthens Australia's air dominance, enhances interoperability, and provides a credible deterrent that supports the security of the United States and its allies. Acquisition Transformation: This agreement is another direct outcome of the Department of War's Acquisition Transformation Strategy, one of the most significant reforms to U.S. warfighting acquisition in decades. It reflects years of collaboration to modernize acquisition and deliver critical capability at the speed and scale required by today's security environment. About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
Bank of America ve 2. čtvrtletí snížila svůj podíl v Lockheed Martin o 15,2 % a prodala 411 028 akcií. Po prodeji držela 2 284 661 akcií v hodnotě 1,164 miliardy USD.
Bank of America Corp DE cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,284,661 shares of the aerospace company’s stock after selling 411,028 shares during the quarter. Bank of America Corp DE owned 0.99% of Lockheed Martin worth $1,163,944,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Lockheed Martin during the 2nd quarter worth about $9,617,574,000. Franklin Resources Inc. lifted its holdings in Lockheed Martin by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,670,284 shares of the aerospace company’s stock valued at $807,866,000 after acquiring an additional 10,349 shares during the period. Deutsche Bank AG lifted its holdings in Lockheed Martin by 7.4% in the fourth quarter. Deutsche Bank AG now owns 1,440,840 shares of the aerospace company’s stock valued at $696,891,000 after acquiring an additional 99,403 shares during the period. Bank of New York Mellon Corp acquired a new position in Lockheed Martin in the second quarter valued at approximately $645,258,000. Finally, Legal & General Group Plc purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $497,469,000. 74.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades A number of equities research analysts have recently commented on the stock. Robert W. Baird set a $700.00 price objective on shares of Lockheed Martin in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Citigroup increased their price target on shares of Lockheed Martin from $641.00 to $691.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company set a $600.00 price target on shares of Lockheed Martin in a research report on Monday, July 27th. Finally, UBS Group raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $581.00 to $674.00 in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $637.56.
Read Our Latest Report on LMT Lockheed Martin Stock Up 1.0% Lockheed Martin stock opened at $529.61 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. The stock has a market capitalization of $122.23 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.14 and a beta of 0.10. The business has a 50 day simple moving average of $555.78 and a 200-day simple moving average of $564.24. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The firm had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. On average, analysts anticipate that Lockheed Martin Corporation will post 30.39 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be given a dividend of $3.45 per share. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.6%. Lockheed Martin’s dividend payout ratio is currently 50.87%.
(Free Report)
Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
The company’s products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.
Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.
Featured Stories Five stocks we like better than Lockheed Martin Analysts Are Punting Their Calls Into the Next Quarter After Adobe’s Mixed Earnings Institutional Money Is Pouring Into These 2 Altcoin ETFs The End of Big Tech Buybacks? Only One Hyperscaler Is Still Repurchasing Shares 3 Dividend Kings to Buy While They’re Still Beaten Down Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Amundi lifted its stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,010 shares of the aerospace company’s stock after purchasing an additional 3,677 shares during the quarter. Amundi’s holdings in Lockheed Martin were worth $14,779,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in LMT. HighTower Advisors LLC lifted its stake in shares of Lockheed Martin by 4.8% in the 2nd quarter. HighTower Advisors LLC now owns 412,521 shares of the aerospace company’s stock valued at $210,163,000 after purchasing an additional 18,971 shares during the last quarter. Groupe la Francaise raised its holdings in Lockheed Martin by 95.7% in the 2nd quarter. Groupe la Francaise now owns 90 shares of the aerospace company’s stock valued at $43,000 after buying an additional 44 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Lockheed Martin in the second quarter valued at about $55,695,000. California State Teachers Retirement System boosted its stake in Lockheed Martin by 49,985.5% during the second quarter. California State Teachers Retirement System now owns 163,027,709 shares of the aerospace company’s stock worth $83,056,097,000 after buying an additional 162,702,210 shares during the period. Finally, Ameritas Advisory Services LLC boosted its stake in Lockheed Martin by 271.2% during the second quarter. Ameritas Advisory Services LLC now owns 11,384 shares of the aerospace company’s stock worth $5,800,000 after buying an additional 8,317 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.
Lockheed Martin Stock Down 1.1% LMT stock opened at $524.40 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 2.34. Lockheed Martin Corporation has a twelve month low of $437.25 and a twelve month high of $692.00. The company’s 50 day moving average is $555.94 and its two-hundred day moving average is $565.85. The stock has a market cap of $121.03 billion, a P/E ratio of 19.33, a PEG ratio of 1.15 and a beta of 0.10.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.72. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. The business had revenue of $20.06 billion during the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. Research analysts expect that Lockheed Martin Corporation will post 30.39 earnings per share for the current fiscal year. Lockheed Martin Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin’s dividend payout ratio is currently 50.87%.
Wall Street Analysts Forecast Growth LMT has been the topic of several recent analyst reports. TD Cowen decreased their price objective on shares of Lockheed Martin from $600.00 to $560.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Jefferies Financial Group reiterated a “hold” rating on shares of Lockheed Martin in a report on Wednesday, September 2nd. Finally, Citigroup increased their target price on Lockheed Martin from $641.00 to $691.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $637.56.
Read Our Latest Research Report on Lockheed Martin
Key Stories Impacting Lockheed Martin Here are the key news stories impacting Lockheed Martin this week:
Positive Sentiment: The U.S. Army confirmed that Lockheed Martin has advanced to the demonstration phase of the competition for the Integrated Fires Protection Capability Increment 2 second interceptor. Progress in the program could support future missile-defense orders, although a contract award is not yet assured. Army Confirms Lockheed Also Advances To Demo Phase Of IFPC Inc. 2 Second Interceptor Competition Positive Sentiment: UBS upgraded Lockheed Martin, citing a structural increase in defense demand that could provide durable support for the company’s backlog and revenue outlook. UBS sees a structural shift building at Lockheed Martin Positive Sentiment: Lockheed Martin and IBM are establishing a quantum-computing innovation hub at ETH Zurich, funded in part through Switzerland’s offset obligations related to its purchase of 36 F-35A aircraft. The IBM Quantum System Two will support research into navigation, materials science and other potential defense applications. The initiative strengthens Lockheed’s technology partnerships but is unlikely to materially affect near-term earnings. IBM, Lockheed Martin Announce Swiss Quantum Innovation Hub Neutral Sentiment: CEO Jim Taiclet and CFO Evan Scott are scheduled to participate in a Morgan Stanley conference. Investors may look for updates on demand, margins, cash flow and program execution. Lockheed Martin executives to speak at Morgan Stanley conference Negative Sentiment: Recent analysis cautions that fixed-price contracts could pressure margins if costs rise, while political scrutiny and shifting defense priorities may challenge traditional business practices. At roughly 17–18 times forward earnings and with a dividend yield near 2.6%, the valuation reflects some of these risks but leaves investors focused on execution. Lockheed Martin valuation and risk analysis Lockheed Martin Company Profile (Free Report)
Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
The company’s products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.
Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.
Read More Five stocks we like better than Lockheed Martin Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Lockheed Martin čelí opatrnosti na Wall Street kvůli vysoké expozici vůči fixně ceněným vývojovým kontraktům, které zvyšují riziko nákladových překročení. Firma má v roce 2025 z těchto kontraktů 45 miliard USD z plánovaných tržeb 75 miliard USD.
Given Wall Street's usual optimism, the three buy ratings, six hold ratings, and one sell rating (from Goldman Sachs), according to Visible Alpha, indicate a cautious view of Lockheed Martin (LMT +1.08%) stock. That may surprise many investors, given the company's attractive valuation, all-time-high backlog of $230 billion in the second quarter (almost three times its estimated 2026 sales), and surging global defense budgets.
Does the caution make sense?
Lockheed Martin stock analysis I'll cut to the chase here. I think the caution is justified for three key reasons:
A combination of increasing complexity and government demands, notably from the U.S. government, is placing stress on fixed-price development programs, bringing about significant charges and cost overruns for defense companies in recent years. In common with Boeing's (BA -0.79%) defense business, Lockheed Martin has relatively high exposure to these sorts of developmental programs (classified missile and aeronautics programs and the F-35 fighter serve as examples) when compared to, say, RTX (RTX +0.29%), which has relatively more solutions based on repeatable production such as Tomahawk missiles, PAC-3 missile segment enhancement, and advanced medium-range air-to-air missiles (AMRAAMs). Defense budgets may have surged, but so has government debt, and real questions remain about where global defense budgets can go from here.
Premium Feature
Moneyball Superscore
78/100
Today's Change
(
1.08
%) $
5.66
Current Price
$
530.12
Defense industry challenges To flesh out the points above, consider that Boeing's management has said fixed-price development programs account for only 15% of its defense segment's revenue, yet these programs have led to ongoing losses even as the rest of the segment remains profitable. In addition, they run over five separate programs.
Lockheed Martin has significant exposure to fixed-price contracts, with $45 billion of its $75 billion in 2025 revenue coming from such contracts. In comparison, RTX's Raytheon defense business reported just $16.6 billion in fixed-price contracts in 2025, compared with the company's overall revenue of $88.6 billion. In addition, RTX has been willing to walk away from unfavorable contracts.
However, Lockheed Martin's exposure increases risk, especially as the defense industry has drawn criticism from both Republican (including President Trump) and Democratic politicians for making share buybacks and paying dividends while failing to deliver on programs.
Image source: Getty Images.
A stock to buy? The bulls maintain that these issues are already reflected in the stock's valuation, and they would have a point. In addition, the current backlog ensures strong revenue over the medium term, with robust cash flow in tow.
Still, pressure on defense companies from increases in highly complex, difficult-to-deliver defense programs under fixed-price contracts appears to be part of a trend. Moreover, another clear trend, rising debt levels, is likely to put pressure on defense budgets.
As such, investors shouldn't assume defense spending will rise inexorably, and they should assume more strain on profit margins. That's the reason for caution.
Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Boeing, Goldman Sachs Group, Lockheed Martin, and RTX. The Motley Fool has a disclosure policy.
IBM a Lockheed Martin spustily na ETH Curych hub pro kvantové inovace s prvním IBM Quantum System Two v zemi, který bude umístěn v Swiss National Supercomputing Centre (CSCS) v Luganu. Přístup k němu mají získat akademické instituce, firmy i startupy.
IBM, Lockheed Martin Announce Swiss Quantum Innovation Hub at ETH Zurich, Anchored by Switzerland's First IBM Quantum Computer PR Newswire
ZURICH, Sept. 10, 2026
In an extension of ongoing collaboration, IBM and Lockheed Martin plan to initiate research projects with select Swiss academic institutions.
The Swiss National Supercomputing Centre at ETH Zurich will host an IBM Quantum System Two, expanding access across Swiss institutions to fuel the country's quantum ecosystem, research and workforce education.
, /PRNewswire/ -- IBM (NYSE: IBM) and Lockheed Martin (NYSE: LMT), through an offset agreement with armasuisse, Switzerland's Federal Office for Defence Procurement, today established a hub for quantum innovation at ETH Zurich, a prominent public research university. The new hub plans to host the country's first IBM Quantum System Two at the Swiss National Supercomputing Center (CSCS) in Lugano.
IBM will operate the IBM Quantum System Two, which will be powered by an IBM Quantum Nighthawk, the company's most advanced processor. ETH Zurich will provide expertise, resources and technologies for Swiss industries, startups and academia, including access to the quantum computer. Its delivery is expected to catalyze the development of new algorithms, technical breakthroughs, and industrial use cases, as well as anchor initiatives to foster Switzerland's workforce and talent. The project also advances the ongoing strategic collaboration between Lockheed Martin and IBM, combining Lockheed Martin innovations in quantum sensing and additive manufacturing with IBM's expertise in quantum computing and AI.
"Switzerland is deservedly recognized as a hub for global innovation, and Lockheed Martin is proud of its long history of technical collaboration within the country," said Dr. Craig Martell, Lockheed Martin vice president and chief technology officer. "This project extends the strategic relationship between Lockheed Martin and IBM in quantum and AI while positioning Switzerland as a leader in these critical, cutting-edge fields. It provides resources and expertise, develops skills and enables joint research across the Swiss commercial, defense and academic ecosystem."
"IBM has collaborated with institutions in Switzerland for almost 100 years. Our research team at our Zurich lab has led fundamental technology breakthroughs for the world and has been part of the country's science ecosystem for decades," said Alessandro Curioni, vice president, Algorithms and Applications, IBM Research and director of the Zurich Research Laboratory. "As we continue to foster innovation with the Swiss community, we are excited to have the opportunity to put world-class quantum hardware, software and expertise directly into the hands of Switzerland's thriving academic institutions and industries."
"Switzerland will gain access to essential research infrastructure that will enable us to further advance the exploration of this emerging technology and educate the talent needed to support it," said ETH Zurich President Joël Mesot, emphasizing the opportunities the new quantum computer will bring to Switzerland.
Delivering quantum to the Swiss ecosystem
Organizations that join the innovation hub through ETH Zurich will have immediate access to these resources and IBM's fleet of quantum computers available over the cloud. Additionally, upon the system's deployment by the end of 2026, ETH Zurich will provide organizations with access to Switzerland's own dedicated IBM Quantum System Two. These capabilities will enable the country's community of innovators to accelerate scientific and industrial research and build new use cases across chemistry, materials science, optimization, financial services and more. Today, IBM quantum computers are already delivering scientific value across the globe as useful tools in these fields.
IBM and Lockheed Martin expand joint research initiatives
As part of the collaboration, two planned joint development projects between IBM and Lockheed Martin include the exploration of quantum sensing applications for navigation and the improvement of additive manufacturing of metallic alloys. These projects also complement ongoing efforts by IBM and Lockheed Martin across a range of advanced technologies focused on aerospace and defense innovation.
IBM and ETH Zurich build on a legacy of collaboration
This initiative also builds upon a close and long-standing collaboration between IBM and ETH Zurich, including a recently launched 10-year effort to advance foundational algorithmic research.
The quantum education and workforce development effort includes providing the Swiss ecosystem with access to the IBM Quantum Network and IBM Quantum Platform learning offerings, including coursework, certifications, and workshops; as well as event support, such as hackathons, conferences, and partner forums.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service.
Visit www.ibm.com for more information.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ibm-lockheed-martin-announce-swiss-quantum-innovation-hub-at-eth-zurich-anchored-by-switzerlands-first-ibm-quantum-computer-302874442.html
UBS zvýšila doporučení pro Lockheed Martin na Buy a čeká 150% růst tržeb v segmentu missiles and fire control mezi lety 2025 a 2030. Cílovou cenu zvedla na 674 USD.
UBS projects 150% revenue growth in missiles and fire control through 2030 Summary
UBS upgraded Lockheed Martin to Buy and raised its target to $674, projecting 9% revenue growth through 2028.
Lockheed Martin Corp. LMT rose 2.42% intraday after UBS upgraded the stock to Buy from Neutral and lifted its price target to $674 from $581, implying roughly 25% upside.
UBS expects 150% revenue growth in the missiles and fire control segment between 2025 and 2030, built on multi-year production frameworks, reflecting changed views on stockpile requirements and international demand. Across the company it models a 9% revenue compound annual growth rate through 2028, above consensus, and sees double-digit earnings per share upside to 2028 estimates. Missiles and munitions, F-35 sustainment, CH-53K and Trident are the named drivers.
On the budget worry, UBS thinks the market has it wrong. Awards are flowing and outlay catch-up is underway, with a 17% increase in July and 36% of the fiscal 2026 budget still to spend. The stock trades at a 15% discount to the S&P 500, which the firm argues doesn't reflect the production ramp the Pentagon is pushing the supply chain to deliver.
Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Lockheed Martin jedná s Tata Advanced Systems o společné výrobě Javelinu v Indii. Cílem je posílit dodavatelský řetězec, výrobní kapacitu a rychlejší nasazení.
Key Takeaways Lockheed Martin is exploring Javelin co-production in India with Tata Advanced Systems.The initiative aims to expand the Javelin supply chain and support greater manufacturing capacity.Local production is expected to boost supply-chain resilience, faster fielding and sustained readiness. Lockheed Martin (LMT - Free Report) is deepening its presence in India through strategic partnerships aimed at expanding local defense manufacturing and strengthening supply-chain capabilities. The company, through the Javelin Joint Venture (JJV) with RTX Corporation (RTX - Free Report) , recently entered into a memorandum of understanding with Tata Advanced Systems Limited to explore co-production of the Javelin All Up Round (AUR) in India.
Per the agreement, Tata Advanced Systems has been selected as the JJV’s prime partner for future in-country co-production efforts. The companies will explore establishing a final assembly and integration facility for the Javelin AUR and component production capabilities in India. Sub-assembly kits will be produced at Lockheed Martin’s facility in Troy, AL, while guidance electronics units will be manufactured at RTX’s Tucson, AZ, facility before being shipped to India for final assembly and integration.
The initiative should strengthen Lockheed Martin’s relationship with India while expanding the Javelin supply chain and supporting greater manufacturing capacity. Local production is also expected to improve supply-chain resilience and enable faster fielding and sustained readiness for partner nations in the Indo-Pacific.
The partnership aligns with India’s push to strengthen its domestic defense industrial base and increase self-reliance. For Lockheed Martin, deeper integration with India’s defense ecosystem could create opportunities for future production and technology partnerships.
With its established Javelin capabilities and expanding industrial partnerships in India, Lockheed Martin is well-positioned to capitalize on rising defense requirements while strengthening its long-term presence in the strategically important Indo-Pacific region.
Aerospace Stocks to Keep on the RadarOther aerospace and defense companies expanding their presence in India are discussed below:
RTX Corporation (RTX - Free Report) : RTX is strengthening its position in India through partnerships spanning defense systems, aircraft components and manufacturing. Its collaboration with Tata Advanced Systems on Javelin co-production should expand its local industrial footprint while supporting India’s defense modernization efforts.
Airbus (EADSY - Free Report) : Airbus is expanding its presence in India with a new technology center in Bengaluru. The 880,000-square-foot facility will support engineering, digital, customer services and procurement activities, strengthening the company’s operations in India and supporting its long-term growth in the country.
The Zacks Rundown for LMTShares of LMT have risen 14.4% in the past year against the industry’s 7% decline.
Image Source: Zacks Investment Research
The company shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 16.34X compared with its industry’s average of 30.76X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for LMT’s 2026 and 2027 earnings has moved north over the past 60 days.
Image Source: Zacks Investment Research
LMT stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Lockheed Martin is benefiting from strong defense demand, lifting backlog to a record $230 billion.Javelin, missile-defense and hypersonic investments expand Lockheed Martin's growth opportunities.Lockheed Martin faces program risks and high debt, prompting investors to await a better entry point. Lockheed Martin’s (LMT - Free Report) shares have risen 12.6% year to date, outperforming the Zacks Aerospace-Defense industry’s decline of 4.1%. LMT is benefiting from a favorable macro backdrop of higher U.S. and allied defense spending, inventory replenishment and growing demand for missile defense, munitions, advanced aircraft and space systems.
Image Source: Zacks Investment Research
Shares of other defense stocks, such as General Dynamics (GD - Free Report) and Northrop Grumman (NOC - Free Report) , have shown mixed performance in the year-to-date period. Shares of General Dynamics have risen 9.7% while those of Northrop Grumman have lost 6.5% over the time frame.
Considering Lockheed Martin’s outperformance, investors might be left wondering if this is a good time to add LMT stock to their portfolio. Let's examine the factors that contributed to the share price gain and assess the stock's investment prospects to make an informed decision.
Tailwinds for LMT StockLockheed Martin is capitalizing on strong demand by securing longer-duration awards, enhancing revenue visibility and supporting capacity expansion. Backlog reached a record $230 billion as of June 28, 2026, after the company booked $65 billion of second-quarter orders and achieved a 3.2 book-to-bill ratio.
In August 2026, Lockheed Martin and Tata Advanced Systems signed an MOU designating Tata Advanced Systems as the prime Indian partner for locally co-producing the Javelin anti-tank missile. Javelin is developed and produced by the Javelin Joint Venture (“JJV”), a partnership between Raytheon in Tucson, Arizona, and Lockheed Martin in Orlando, FL. The collaboration strengthens LMT's exposure to India's rising defense spending, expands its international production footprint and could support higher Javelin volumes over time. With more than 55,000 missiles already produced, the Javelin program provides the partnership with an established product rather than an unproven system.
In August 2026, Lockheed Martin has been selected by the U.S. Missile Defense Agency to modernize its Modeling & Simulation Objective Simulation Framework, a virtual environment used to test and evaluate missile-defense systems before they are deployed. This is particularly attractive as missile threats become more complex and the Pentagon increases investment in layered missile defense. Lockheed Martin's broader missile-defense portfolio — including THAAD, PAC-3 and the Next Generation Interceptor — allows expertise gained through the simulation framework to complement its physical weapons programs.
On Aug. 11, 2026, Lockheed Martin announced a multimillion-dollar internal investment to develop a Modular Payload Delivery System (“MPDS”) that uses proven hypersonic missile-body technologies but redesigns them into a modular architecture. A modular design should enable the company to respond more quickly to evolving Pentagon requirements while potentially reducing the time and engineering costs required to develop new variants.
Challenges for LMT StockLockheed Martin remains exposed to cost-estimate and schedule risk on complex programs, especially under fixed-price arrangements. Second-quarter 2026 results benefited from the absence of the $1.6 billion in reach-forward losses recorded in the prior-year period, rather than from the elimination of the underlying execution risk. Aeronautics also recorded $160 million of lower net favorable profit adjustments.
Management cited F-16 and C-130 program challenges as factors affecting Aeronautics margins, while lower initial booking rates on new contracts may weigh on profitability. The company also retains existing classified and helicopter program exposures on its balance sheet, which could continue to generate additional program losses over time if cost, scope or approval assumptions deteriorate.
Estimates for LMT StockThe Zacks Consensus Estimate for 2026 earnings per share (EPS) indicates year-over-year growth of 31.44%. LMT’s long-term (three to five years) earnings growth rate is 19.19%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for General Dynamics’ 2026 EPS indicates year-over-year growth of 9.44%. GD’s long-term earnings growth rate is 10.2%. The Zacks Consensus Estimate for Northrop Grumman’s 2026 EPS indicates year-over-year growth of 9.45%. NOC’s long-term earnings growth rate is 5.33%.
LMT’s Earnings Surprise HistoryThe company beat on earnings in three of the trailing four quarters and missed in one, delivering an average surprise of 8.85%.
Image Source: Zacks Investment Research
LMT’s Debt PositionCurrently, the company’s total debt to capital is 70.08%, higher than the industry’s average of 46.7%.
Image Source: Zacks Investment Research
LMT Stock Trades at a DiscountIn terms of valuation, LMT’s forward 12-month price-to-sales (P/S) is 1.51X, a discount to the industry’s average of 2.4X. This suggests that the stock is trading at a lower valuation relative to its projected sales growth than its peer group.
Image Source: Zacks Investment Research
What Should an Investor Do Now?Lockheed Martin is benefiting from strong defense demand, building a larger backlog and securing longer-term opportunities that improve revenue visibility and support future capacity expansion. Its partnerships and investments in Javelin production, missile-defense simulation, and modular hypersonic systems strengthen its international presence, broaden its technology portfolio and position the company to benefit from growing demand for advanced defense
capabilities.
Considering its financial pressures and current debt levels, new investors should wait and watch for a better entry point. Investors who already own this Zacks Rank #3 (Hold) stock may consider retaining it, given the company’s earnings growth outlook and price performance.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lockheed Martin (LMT - Free Report) ended the recent trading session at $565.62, demonstrating a +1.64% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Shares of the aerospace and defense company have depreciated by 4.26% over the course of the past month, underperforming the Aerospace sector's loss of 2.92%, and the S&P 500's gain of 3.67%.
Investors will be eagerly watching for the performance of Lockheed Martin in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $7.28, marking a 4.75% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $20.33 billion, indicating a 9.27% upward movement from the same quarter last year.
LMT's full-year Zacks Consensus Estimates are calling for earnings of $30.39 per share and revenue of $80.82 billion. These results would represent year-over-year changes of +31.44% and +7.7%, respectively.
Investors might also notice recent changes to analyst estimates for Lockheed Martin. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.91% increase. Currently, Lockheed Martin is carrying a Zacks Rank of #3 (Hold).
Investors should also note Lockheed Martin's current valuation metrics, including its Forward P/E ratio of 18.31. This represents a discount compared to its industry average Forward P/E of 22.86.
We can additionally observe that LMT currently boasts a PEG ratio of 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Aerospace - Defense industry held an average PEG ratio of 1.71.
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Biondo Investment Advisors LLC purchased a new position in Lockheed Martin Corporation (NYSE:LMT – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,608 shares of the aerospace company’s stock, valued at approximately $12,027,000. Lockheed Martin comprises 1.5% of Biondo Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Basso Capital Management L.P. purchased a new stake in Lockheed Martin during the 4th quarter valued at $25,000. Burnham & Co LLC bought a new position in Lockheed Martin during the second quarter valued at $25,000. United Financial Planning Group LLC bought a new position in Lockheed Martin during the third quarter valued at $25,000. Clarity Asset Management Inc. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $26,000. Finally, Triumph Capital Management lifted its holdings in shares of Lockheed Martin by 66.7% in the 4th quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin Stock Up 0.2% NYSE:LMT opened at $564.61 on Monday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. Lockheed Martin Corporation has a 1-year low of $437.25 and a 1-year high of $692.00. The company has a 50-day moving average of $547.80 and a 200 day moving average of $575.31. The firm has a market cap of $130.31 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10.
Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating the consensus estimate of $7.22 by $0.72. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. The business had revenue of $20.06 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, research analysts anticipate that Lockheed Martin Corporation will post 30.39 EPS for the current fiscal year. Lockheed Martin Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be issued a $3.45 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.4%. Lockheed Martin’s dividend payout ratio (DPR) is currently 50.87%.
Wall Street Analyst Weigh In A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $680.00 to $605.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. DZ Bank raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group reissued a “hold” rating on shares of Lockheed Martin in a research note on Sunday, July 26th. Morgan Stanley upped their target price on Lockheed Martin from $653.00 to $690.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $581.00 price target on shares of Lockheed Martin in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $632.39.
Read Our Latest Stock Analysis on Lockheed Martin
Lockheed Martin Company Profile (Free Report)
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
Featured Stories Five stocks we like better than Lockheed Martin VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
Bank of New York Mellon Corp ve 2. čtvrtletí získala nový podíl v Lockheed Martin za zhruba 645,3 milionu USD a držela 0,55 % firmy. Lockheed Martin zároveň oznámila zisk na akcii za 2. čtvrtletí ve výši 7,94 USD a tržby 20,06 miliardy USD.
Bank of New York Mellon Corp purchased a new stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,266,551 shares of the aerospace company’s stock, valued at approximately $645,258,000. Bank of New York Mellon Corp owned 0.55% of Lockheed Martin at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of LMT. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,638,936 shares of the aerospace company’s stock worth $4,178,399,000 after buying an additional 114,900 shares in the last quarter. Morgan Stanley lifted its position in shares of Lockheed Martin by 10.1% in the fourth quarter. Morgan Stanley now owns 5,728,551 shares of the aerospace company’s stock valued at $2,770,729,000 after acquiring an additional 527,523 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Lockheed Martin by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,670,284 shares of the aerospace company’s stock valued at $807,866,000 after acquiring an additional 10,349 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Lockheed Martin by 7.4% during the fourth quarter. Deutsche Bank AG now owns 1,440,840 shares of the aerospace company’s stock valued at $696,891,000 after acquiring an additional 99,403 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Lockheed Martin by 107.3% during the fourth quarter. AQR Capital Management LLC now owns 1,293,823 shares of the aerospace company’s stock valued at $625,784,000 after acquiring an additional 669,604 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In Several brokerages recently weighed in on LMT. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $680.00 to $605.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Citigroup raised their price target on shares of Lockheed Martin from $641.00 to $691.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. BNP Paribas Exane lowered their price target on shares of Lockheed Martin from $770.00 to $680.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Lockheed Martin from $615.00 to $575.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $632.39.
View Our Latest Stock Report on Lockheed Martin Lockheed Martin Price Performance Lockheed Martin stock opened at $571.60 on Friday. Lockheed Martin Corporation has a 1 year low of $437.25 and a 1 year high of $692.00. The firm has a 50 day moving average price of $547.31 and a 200 day moving average price of $575.81. The company has a market cap of $131.92 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.01 and a beta of 0.10. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.01 and a current ratio of 1.19.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.72. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. The company had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. During the same quarter last year, the business earned $1.46 EPS. Lockheed Martin’s revenue for the quarter was up 10.5% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. Sell-side analysts predict that Lockheed Martin Corporation will post 30.39 earnings per share for the current year.
Lockheed Martin Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin’s payout ratio is currently 50.87%.
Lockheed Martin News Summary Here are the key news stories impacting Lockheed Martin this week:
Positive Sentiment: Lockheed Martin completed the first fully integrated Aegis System Equipped Vessel for Japan, a milestone that expands its role in Japan’s maritime air- and missile-defense infrastructure and supports broader Indo-Pacific defense cooperation. The achievement could strengthen the company’s position for future naval and missile-defense contracts. Lockheed Martin Completes First Japan ASEV In Indo Pacific Defense Milestone Positive Sentiment: Recent activity involving AI-enabled airspace sensing, next-generation missile-defense testing, modular defense systems and responsive space-launch partnerships adds to Lockheed Martin’s growth narrative. The company and its partners also participated in more than $152 million of recent Department of Defense contracts and a $920 million Air Force award pool. Should Lockheed’s AI Sensing and Space Partnerships Shift the Core Investment Case for LMT? Positive Sentiment: A valuation analysis argued that LMT may be approximately 24% undervalued based on discounted-cash-flow and comparable-multiple measures, despite an 87.9% five-year return. This may support the view that long-term defense demand is not fully reflected in the shares. Lockheed Martin Stock May Be 24% Undervalued On Japan Defense System News Neutral Sentiment: Commentary highlighted a potential new entry point in the military naval market, but the reports did not indicate a material near-term revenue or earnings contribution. Why Did Lockheed Martin Stock Drop Today? Neutral Sentiment: Speculation that Lockheed Martin could split its stock if it returns to its recent high is not a fundamental catalyst; a split would change the share count and price denomination, but not the company’s value. Stock-Split Watch: Is Lockheed Martin Next? Lockheed Martin Profile (Free Report)
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
Featured Articles Five stocks we like better than Lockheed Martin 3 Energy Stocks Raising Dividends as the Sector Surges 5 Reasons the S&P 500 Could Keep Rallying Through Year-End Walmart’s Post-Earnings Drop Could Be a Buying Opportunity The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT – Free Report).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.
