Lockheed Martin (LMT) Stock Rises 2.7% on Dual Defense Contract Wins

TLDR

• Lockheed Martin (LMT) rose 2.7% intraday to around $659, with volume up 34% above average.
• Q4 revenue beat estimates at $20.32B (vs $19.84B expected), but EPS missed at $5.80 vs $6.33 expected.
• The U.S. Army successfully tested LMT’s Next Generation Command and Control (NGC2) system, with a follow-up exercise planned for April 2026.
• The U.S. Navy awarded LMT an $18.8M contract modification for the Trident II (D5) Life Extension 2 program, running through August 2030.
• LMT is up over 31% year-to-date, trading near all-time highs, with a $3.45 quarterly dividend declared.

Lockheed Martin (LMT) climbed 2.7% during intraday trading on Friday, reaching a high of $662.47 before settling around $659.24. The previous close was $641.63.

Lockheed Martin Corporation, LMT

Volume was elevated too. About 2.59 million shares changed hands, up 34% from the daily average of roughly 1.93 million.

The move comes as two separate military contract developments landed in the same week, reinforcing LMT’s position as a core defense contractor for the U.S. government.

The U.S. Army completed a prototype test of Lockheed’s Next Generation Command and Control (NGC2) system with the 25th Infantry Division. The system connects sensor data directly to weapon systems, allowing soldiers to identify and engage targets faster.

That “sensor-to-shooter” capability is a key part of modern battlefield strategy. Lessons from the recent test are already being used to refine the technology, and another evaluation is set for April 2026 during the “Lightning Surge 3” exercise.

On the Navy side, Lockheed secured an $18.8 million contract modification tied to the Trident II (D5) Life Extension 2 program. That’s part of America’s sea-based nuclear deterrent, and the contract runs through August 30, 2030.

Much of the work will be carried out at Lockheed’s Huntsville, Alabama facility. It’s not a massive dollar figure on its own, but the long runway and strategic nature of the program matter to investors.

Q4 Earnings: Revenue Beat, EPS Miss

LMT’s most recent quarterly results, reported January 29, showed revenue of $20.32 billion against analyst estimates of $19.84 billion — a beat of roughly $480 million. Revenue was up 9.1% year-over-year.

Earnings per share came in at $5.80, missing the consensus estimate of $6.33 by $0.53. A year ago, the company posted $7.67 EPS for the same quarter.

Analysts expect full-year EPS of $27.15 for the current fiscal year.

Analyst Targets and Dividend

Several analysts have revised their price targets upward. Citigroup raised its target from $592 to $673, though it maintained a “neutral” rating. RBC lifted its target from $615 to $650 with a “sector perform” rating. Robert W. Baird went to $640 with an “outperform.”

The consensus from MarketBeat sits at a “Hold” with an average target price of $612.50 — below where the stock is currently trading.

Lockheed also declared a quarterly dividend of $3.45 per share, payable March 27 to shareholders of record as of March 2. The annualized dividend works out to $13.80, giving a yield of roughly 2.1%. The payout ratio stands at 64.22%.

The stock’s market cap sits at $151.68 billion, with a P/E ratio of 30.68 and a beta of 0.23. The 50-day moving average is $578.05 and the 200-day is $508.04.

LMT is up more than 31% year-to-date and trading near all-time highs. Institutional investors hold 74.19% of the stock.

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