Lockheed Martin (NYSE:LMT) Announces Earnings Results

Lockheed Martin (NYSE:LMT) posted its quarterly earnings data on Thursday. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53), FiscalAI reports. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 earnings per share.

Here are the key takeaways from Lockheed Martin’s conference call:

• Lockheed closed 2025 with a record backlog of $194 billion (about 2.5x annual sales), delivered 6% sales growth and generated $6.9 billion of free cash flow after pre-funding the pension—signaling strong demand and cash conversion.
• Management announced major production ramps and multi‑year framework deals (PAC‑3 MSE and THAAD) that are expected to expand PAC‑3 annual capacity from ~600 to 2,000 missiles and underpin multi‑year scale across munitions and interceptors.
• For 2026 Lockheed guided to ~5% sales growth (midpoint), segment operating profit growth of >25%, free cash flow of $6.5–6.8 billion, and sharply higher internal investment with CapEx + IRAD approaching $5 billion.
• Certain programs weighed on margins and EPS: Aeronautics operating profit fell (classified program reach‑forward losses), RMS operating profit declined ~31% (CMHP/TUHP losses), and 2025 EPS was down 4% due to higher interest, tax and below‑the‑line items—highlighting near‑term margin and program execution risks.

Lockheed Martin Stock Up 1.9%

Shares of NYSE:LMT opened at $634.31 on Friday. The business has a fifty day simple moving average of $509.69 and a 200 day simple moving average of $480.81. Lockheed Martin has a 12-month low of $410.11 and a 12-month high of $645.67. The firm has a market cap of $146.78 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.78 and a beta of 0.24. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin News Roundup

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Company outlook and defense demand — Lockheed gave an upbeat 2026 profit/revenue outlook and cited strong fighter-jet and missile demand alongside a record backlog that supports multi‑year revenue visibility. Reuters: Lockheed Martin forecasts upbeat 2026 profit, revenue
• Positive Sentiment: THAAD and production ramp — Lockheed signed a framework to quadruple THAAD interceptor output (to ~400/year) and will expand munitions capacity, a clear revenue/margin tailwind if sustained. PR Newswire: Lockheed Martin and U.S. Department of War sign framework agreement
• Positive Sentiment: Analyst price-target lifts — Several firms raised targets this morning (Truist to $695, JPMorgan to $680, TD Cowen to $670, RBC to $650), supporting the stock’s upside narrative. MarketScreener: Truist raises price target MarketScreener: JPMorgan raises price target MarketScreener: TD Cowen raises price target MarketScreener: RBC raises price target
• Neutral Sentiment: Q4 results were mixed — revenue and cash flow were strong and backlog is record‑high, but reported EPS comparisons and some measure revisions caused mixed headlines; investors are weighing growth vs. margin/earnings trajectory. PR Newswire: Q4 and FY2025 results
• Neutral Sentiment: FY2026 guidance: narrow differences vs. consensus — management issued EPS guidance of 29.35–30.25 and revenue guidance roughly $77.5B–$80.0B, close to Street expectations but leaving little margin for surprise; this reduces forecast risk but limits upside if growth slows. Reuters: Guidance details
• Negative Sentiment: Some analyst caution remains — Deutsche Bank raised its target but still implies a modest downside versus current levels, showing not all brokers see large incremental upside. MarketScreener: Deutsche Bank raises target but below current price
• Negative Sentiment: Insider selling flagged — recent disclosed insider sales (no purchases) could be read as minor negative signal for sentiment or liquidity needs. QuiverQuant: Q4 earnings and insider activity

Analysts Set New Price Targets

Several research firms have recently weighed in on LMT. Truist Financial upped their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group lifted their target price on Lockheed Martin from $500.00 to $540.00 and gave the company a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. TD Cowen lifted their price objective on Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Robert W. Baird raised their price target on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price of $577.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Holocene Advisors LP purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $92,628,000. Ameriprise Financial Inc. increased its stake in Lockheed Martin by 16.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock valued at $347,381,000 after buying an additional 108,553 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Lockheed Martin by 84.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 191,976 shares of the aerospace company’s stock worth $95,836,000 after buying an additional 87,817 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Lockheed Martin by 72.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 201,244 shares of the aerospace company’s stock valued at $93,339,000 after acquiring an additional 84,371 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its stake in shares of Lockheed Martin by 728.2% during the 2nd quarter. MUFG Securities EMEA plc now owns 82,817 shares of the aerospace company’s stock worth $38,356,000 after purchasing an additional 72,817 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

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.