Lockheed Martin Corporation (LMT) Stock Price, Chart, Company Profile & AI Analysis

Key Takeaways

• Lockheed Martin shares gained about 25% over the trailing 30-day period, rising from roughly $509 in late September to about $637 by the end of October.
• The move was driven by stronger-than-expected third-quarter results, a second consecutive full-year guidance increase, and a record $292 billion backlog.
• A 10-year Pentagon framework agreement covering 850 F-35 jets added long-term production visibility and helped de-risk the stock.
• Morgan Stanley upgraded the shares to Overweight and raised its price target to $835, extending the post-earnings rally.
• Missiles and Fire Control led segment growth with sales up 24% on higher PAC-3, THAAD, GMLRS, and PrSM production.
• Broader defense-sector strength and elevated global defense spending underpinned investor sentiment.
• For more detail on valuation and fundamentals, explore Lockheed Martin's Price Targets, Earnings, and Forecast on dedicated Tickeron pages.
• Explore Trending AI Robots to see how automated trading strategies are positioned across the market.

Lockheed Martin (LMT) Company Overview and Market Position

Lockheed Martin is one of the world's largest aerospace and defense contractors, operating across four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Its flagship programs include the F-35 Lightning II fighter jet, PAC-3 and THAAD missile-defense interceptors, GMLRS and PrSM tactical missiles, Sikorsky helicopters, and the Next Generation Interceptor for homeland missile defense. The company's scale, classified and priority-program exposure, and deep relationships with the U.S. Department of Defense and allied governments give it a durable competitive position. Investors follow the stock for its record backlog, free-cash-flow generation, dividend, and sensitivity to global defense budgets and geopolitical conditions.

Lockheed Martin (LMT) Stock Price Performance: Last 30 Days vs. Quarter

Over the last 30 days, Lockheed Martin shares climbed approximately 25%, advancing from a close near $509.25 on September 30 to about $636.95 on October 30. Much of the gain was concentrated in late October, when the stock jumped sharply following third-quarter earnings and continued to rally on analyst upgrades.

The broader quarterly trend was more volatile. Entering August, the stock traded in the high $500s to low $600s before sliding to a low near $505 in early October. The subsequent rebound lifted shares to roughly $637, leaving the trailing three-month change at about 9% to 11%, with virtually all of that gain compressed into the final weeks of the period.

What Drove LMT Stock Price in the Last 30 Days

The catalyst for the 30-day advance was Lockheed Martin's third-quarter 2026 report, released October 22. Adjusted earnings per share reached $7.97, above the consensus estimate of roughly $7.52, while revenue rose 11% year over year to $20.7 billion, exceeding the roughly $20.5 billion expected. Net earnings climbed 14% to about $1.85 billion.

Management raised its full-year outlook for the second consecutive quarter, lifting 2026 adjusted EPS guidance to $30.35–$30.75, revenue to $80 billion–$82 billion, and free cash flow to $7.8 billion–$8.0 billion. The company also reported a record $292 billion backlog, up 27% from the prior quarter, including a $52.5 billion multiyear PAC-3 interceptor award. Missiles and Fire Control led growth with a 24% sales increase, while Aeronautics revenue rose 13% on higher F-35 volume.

Sentiment was further supported by a 10-year framework agreement with the U.S. Department of Defense covering 850 F-35 jets and a global production rate of 156 aircraft annually. Morgan Stanley subsequently upgraded the stock to Overweight and raised its price target to $835 from $690, citing reduced F-35 risk and multiyear demand durability. The shares rose about 7% on the earnings day and added further gains in subsequent sessions even as the broader market lagged.

What Drove LMT Stock Performance Over the Last Quarter

The trailing quarter reflected a turn in investor sentiment rather than a steady climb. Through much of August and September, the stock trended lower alongside mixed signals on near-term F-35 contract timing and broader market caution, touching a multi-month low in early October. The narrative shifted decisively in late October as strong earnings, a record backlog, and the F-35 framework agreement demonstrated accelerating demand and improved cash generation.

Over the period, defense-sector peers such as RTX and Northrop Grumman also benefited from elevated global defense spending, though Lockheed Martin's larger single-day moves reflected company-specific catalysts. The combination of multiyear missile awards and the F-35 agreement gave investors greater confidence in the durability of near- and long-term revenue.

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LMT Stock Forecast Drivers: What Investors Should Watch Next

Investors should monitor several factors in the months ahead. Lockheed Martin is expected to report fourth-quarter 2026 results in January 2027 and to provide initial 2027 guidance, including its sales forecast, which will be a key figure to watch. Final F-35 pricing, production schedules, and contract awards under the new framework remain subject to congressional authorization and appropriations.

Additional drivers include the pace of missile and interceptor production ramps, free-cash-flow conversion, execution on fixed-price and classified programs, and potential cost pressures tied to F-35 Lot 20, which management noted has exceeded existing contractual funding. Broader themes such as U.S. and allied defense budgets, geopolitical developments, and sector-wide demand for munitions restocking will also shape sentiment. As always, these factors carry uncertainty and are not a basis for specific investment recommendations.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

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