Lockheed Martin Corporation (LMT) Stock Price & Analysis
Lockheed Martin Corporation (LMT) closed at USD 589.91 on Thursday, October 22, 2026, up 6.96% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 551.51; the Oct 22, 2026 session ranged USD 577.5–607.99 on volume of 2,957,699 shares. Market capitalization is $136.15B, with a 52-week range of USD 437.25–692 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 08:36 UTC.
Also available as compact Markdown for AI agents: nexqual.com/LMT.md
Latest Earnings Results (LMT)
Lockheed Martin Corporation (LMT) reported Q3 2026 results on Oct 22, 2026, 6:19:00 AM ET: GAAP EPS $7.97 vs. estimate $7.52 (beat), revenue $20.71B vs. estimate $20.46B (beat). Guidance: The company increased its 2026 outlook for sales, earnings per share, and free cash flow. Source: company press release. Nexqual published it 3 min 23 s after release. Read the press release.
| Fiscal period | EPS (reported) | Revenue | Released | Source |
|---|---|---|---|---|
| Q3 2026 | $7.97 (GAAP diluted) | $20.71B | Oct 22, 2026, 6:19:00 AM ET · on Nexqual +3 min 23 s | PR Newswire |
Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.
Key facts (LMT)
- Last four reported quarters (through Sep 27, 2026): revenue $79.1B, net income $6.51B (8.2% margin), free cash flow $8.38B (SEC filings).
- Valuation: P/E 20.9x (avg 20.3x at the last 3 fiscal year-ends), EV/EBITDA 13.7x, net debt $14.5B.
- 4 of 80 tracked superinvestors hold LMT (13F, Q2 2026): 0 new, 1 added, 1 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $118K; 2 not under a Rule 10b5-1 plan ($118K); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.52 on a 1–5 scale) (23 analysts), mean target USD 632.9 (range 498–756).
- Total return with dividends: 1Y +24.0% vs S&P 500 +14.9%; 5Y +80.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 8.48, revenue estimate $22.6B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (LMT)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $67.0B | $66.0B | $67.6B | $71.0B | $75.0B | $79.1B |
| Gross profit | $9.06B | $8.29B | $8.48B | $6.93B | $7.62B | — |
| Operating income | $9.12B | $8.35B | $8.51B | $7.01B | $7.73B | $9.32B |
| Net income | $6.32B | $5.73B | $6.92B | $5.34B | $5.02B | $6.51B |
| EPS (diluted) | $22.76 | $21.66 | $27.55 | $22.31 | $21.49 | — |
| Free cash flow | $7.70B | $6.13B | $6.23B | $5.29B | $6.91B | $8.38B |
| Gross margin | 13.5% | 12.6% | 12.5% | 9.8% | 10.2% | — |
| Operating margin | 13.6% | 12.7% | 12.6% | 9.9% | 10.3% | 11.8% |
| Net margin | 9.4% | 8.7% | 10.2% | 7.5% | 6.7% | 8.2% |
| Revenue growth | +2.5% | -1.6% | +2.4% | +5.1% | +5.6% | — |
| Cash + short-term investments | $3.60B | $2.55B | $1.44B | $2.48B | $4.12B | — |
| Total debt | $11.7B | $15.5B | $17.5B | $20.3B | $21.7B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 27, 2026) (LMT)
P/E 20.9x · P/S 1.7x · EV/EBITDA 13.7x · EV/Sales 1.9x · P/FCF 16.2x · P/B 13.5x · FCF yield 6.16% · Earnings yield 4.78% · Dividend yield (paid, TTM) 2.36% · Buyback yield (TTM) 0.55% · Net debt $14.5B · EV $151B
P/E at fiscal year-ends: Dec 2025 22.5x, Dec 2024 21.8x, Dec 2023 16.5x.
Superinvestors (SEC 13F-HR, Q2 2026) (LMT)
4 of 80 tracked investors hold LMT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management | 1.36% | $110M | Added +1.3% | |
| Thomas Gayner | Markel Group | 0.25% | $33.2M | Unchanged |
| John Rogers | Ariel Investments | 0.06% | $5.6M | Reduced -15.8% |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $395K | Unchanged |
Insider sales (SEC Form 4, open-market, last ~7 months) (LMT)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-13 | Donovan John | Director | 3,378 | $0K | 100% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-08-11…2026-08-12 | Lightfoot Robert M Jr | President Space | 2,606 | $118K | 53.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (LMT)
Consensus Hold (mean 2.52 on a 1–5 scale), 23 analysts; mean target USD 632.9 (low 498, high 756).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | RBC Capital | Target lowered | Sector Perform | $600 → $550 |
| 2026-10-14 | Bernstein | Target lowered | Market Perform | $629 → $564 |
| 2026-10-09 | TD Cowen | Target lowered | Hold | $600 → $570 |
| 2026-10-09 | Barclays | Initiated | Equal-Weight | $554 |
| 2026-10-06 | Rothschild & Co | Initiated | Buy | $650 |
| 2026-09-08 | UBS | Upgrade | Neutral → Buy | $581 → $674 |
| 2026-08-13 | Citigroup | Target raised | Buy | $641 → $691 |
| 2026-07-24 | Morgan Stanley | Target raised | Equal-Weight | $653 → $690 |
| 2026-07-24 | RBC Capital | Target raised | Sector Perform | $575 → $600 |
| 2026-07-13 | TD Cowen | Target lowered | Hold | $600 → $560 |
| 2026-07-01 | Citigroup | Upgrade | Neutral → Buy | $571 → $582 |
Total return (dividends reinvested) (LMT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +24.0% | +80.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +24.1% | +12.4% |
| Volatility (annualized) | 29.2% | 26.2% |
| Max drawdown | -26.9% (Mar 2026→Jun 2026) | -30.4% (Oct 2024→Feb 2025) |
LMT revenue by business segment (quarter ended Sep 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Aeronautics | $8.21B | 39.7% | +13.2% |
| RMS | $4.51B | 21.8% | +3.2% |
| MFC | $4.50B | 21.7% | +24.2% |
| Space | $3.48B | 16.8% | +3.8% |
| Total revenue | $20.71B | 100% | — |
LMT revenue by product line (quarter ended Sep 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Products | $17.43B | 84.2% | +13.8% |
| Services | $3.28B | 15.8% | -0.5% |
| Total revenue | $20.71B | 100% | — |
LMT revenue by region (quarter ended Sep 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $14.35B | 69.3% | +6.9% |
| Europe | $2.78B | 13.4% | +38.2% |
| Asia Pacific | $2.22B | 10.7% | +10.6% |
| Middle East | $700.0M | 3.4% | +10.6% |
| Other | $665.0M | 3.2% | +25.0% |
| Total revenue | $20.71B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
LMT suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Boeing (BA) | “The Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.” |
| Competitor | RTX (Raytheon) (RTX) | “The Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of our primary competitors.” |
Quoted from the company's 10-K filed Jan 29, 2026.
Companies that name LMT in their SEC reports
| Relationship to LMT | Company | Filing | Sentence |
|---|---|---|---|
| supplier | LIGHTPATH TECHNOLOGIES INC (LPTH) | 10-K Sep 11, 2026 | “This includes Visimid's contract with Lockheed Martin, as well as several other non-recurring engineering projects, the largest of which was for another defense customer.” |
| supplier | VIAVI SOLUTIONS INC. (VIAV) | 10-K Aug 13, 2026 | “OSP customers include SICPA Holding SA Company (SICPA), Lockheed Martin Corporation and Seiko Epson Corporation.” |
| competitor | AeroVironment Inc (AVAV) | 10-K Jun 29, 2026 | “Our current principal competitors include Elbit Systems Ltd., Quantum-Systems, Inc., Redwire Corporation, Teledyne Technologies, Inc., Sierra Nevada Corporation, Lockheed Martin Corporation, The Boeing Company, Textron, Inc., Shield AI, Inc., Northrop Grumman Corporation, Griffon Aerospace, Inc., L3Harris Technologies, Inc., Anduril Industries, Inc., Airbus SE and Israeli Aircraft Industries.” |
| supplier | GRAHAM CORP (GHM) | 10-K Jun 8, 2026 | “A representative list of our customers include: 3M, Air Liquide, Anduril, Applied Research Laboratory at Pennsylvania State University, Aramco, Axiom Space, Bechtel Plant Machinery Inc., Blue Origin, Boeing, CERN, China State-owned Refiners, Cummins, Dow Chemical, DuPont, Echogen Power Systems, General Atomics, General Dynamics, GE Vernova, ExxonMobil, Fluor Corporation, Intuitive Machines, Jacobs Engineering Grou…” |
| competitor | VIASAT INC (VSAT) | 10-K May 29, 2026 | “We may also compete directly with the largest defense prime contractors, including Boeing, Lockheed Martin, Northrop Grumman and Raytheon Technologies Corporation.” |
| supplier | RBC Bearings INC (RBC) | 10-K May 15, 2026 | “largest Aerospace & Defense customers include the DOD, Boeing, Airbus, Newport News Shipbuilding, Lockheed Martin, Northrop Grumman,” |
| partner | Starfighters Space, Inc. (FJET) | 10-K Apr 15, 2026 | “1. companies providing dedicated and rideshare launch vehicles to deliver small payloads to generic and custom planes/inclinations and altitude trajectories, such as Northrop Grumman, SpaceX, United Launch Alliance (a joint venture between Lockheed Martin Corporation and The Boeing Company), Rocket Labs, and established Russian, Indian, Chinese, European, and Japanese launch providers;” |
| supplier | Infleqtion, Inc. (INFQ) | 10-K Mar 31, 2026 | “Our partners and customers include the U.S. Department of Defense, DARPA, NASA, SAIC, Lockheed Martin, NVIDIA and the United Kingdom ("UK") National Quantum Computing Centre.” |
| partner | GeoPark Ltd (GPRK) | 20-F Mar 31, 2026 | “He has extensive experience serving Fortune 500 companies, including acting as Lead Audit Partner or Senior Advisory Partner for Lockheed Martin, AES, Gannett, General Dynamics, Booz Allen Hamilton, Marriott and the US Postal Service.” |
| supplier | CPI AEROSTRUCTURES INC (CVU) | 10-K Mar 31, 2026 | “These significant customers – Raytheon, Sikorsky, Lockheed Martin, and the United States Air Force – constituted” |
| competitor | EMBRAER S.A. (EMBJ) | 20-F Mar 30, 2026 | “Its main competitor is the Lockheed Martin C-130J (United States of America).” |
| supplier | SYPRIS SOLUTIONS INC (SYPR) | 10-K Mar 26, 2026 | “Our customers include large aerospace and defense companies such as Northrop Grumman Corporation (Northrop Grumman), Lockheed Martin (Lockheed), L3Harris Technologies (L3Harris), Collins Aerospace Systems (RTX Corporation), BAE Systems (BAE) and Analog Devices, Inc. (ADI).” |
| partner | Firefly Aerospace Inc. (FLY) | 10-K Mar 20, 2026 | “Our collaborations with leading national security agencies and aerospace companies, such as Lockheed Martin Corporation, Northrop Grumman, L3Harris, USSF, Space Development Agency ("SDA"), NRO, and NASA demonstrate the value and criticality of our new space defense and technology leadership in this market.” |
| competitor | Red Cat Holdings, Inc. (RCAT) | 10-K Mar 19, 2026 | “Competitors in the Enterprise segment include transportation companies like United Parcel Service, Federal Express and Amazon, as well as defense companies such as Lockheed Martin Corporation, Northrop Grumman Corporation, and AeroVironment.” |
| competitor | Intuitive Machines, Inc. (LUNR) | 10-K Mar 19, 2026 | “Competition in our addressable market is mainly divided between incumbents, such as Lockheed Martin and Blue Origin who pursue larger, more complex contracts such as crewed lunar missions, and next generation players, including our competitors on the CLPS contract such as Astrobotic and Firefly Aerospace.” |
LMT company outlook (results filed Oct 22, 2026)
- “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.”
Quoted word-for-word from the SEC 8-K results press release.
LMT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $8.48 | $8.58 | -1.1% | $22.56B | 15 |
| Next quarter (ends Mar 2027) | $7.32 | $7.21 | +1.6% | $19.57B | 7 |
| Current fiscal year (ends Dec 2026) | $30.57 | $30.35 | +0.7% | $81.15B | 19 |
| Next fiscal year (ends Dec 2027) | $32.99 | $32.47 | +1.6% | $86.27B | 20 |
LMT options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 30.7% | ±3.6% |
| Nov 6, 2026 | 14 | 29.5% | ±4.8% |
| Nov 13, 2026 | 21 | 29.2% | ±5.7% |
| Nov 20, 2026 | 28 | 28.8% | ±6.5% |
| Nov 27, 2026 | 35 | 28.5% | ±7.2% |
| Dec 4, 2026 | 42 | 27.2% | ±7.6% |
| Dec 18, 2026 | 56 | 27.7% | ±8.8% |
| Jan 15, 2027 | 84 | 26.9% | ±10.4% |
30-day implied volatility 28.6% vs 28.9% realized over the last 30 trading days. Put/call ratio (volume) 0.44. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 08:36 UTC)
| Price | USD 589.91 |
|---|---|
| Change | ▲ 6.96% (up) |
| Previous Close | USD 551.51 |
| Open | USD 579.51 |
| Day Range | USD 577.5 – 607.99 |
| 52-Week Range | USD 437.25 – 692 |
| Volume | 2,957,699 shares |
| Market Cap | $136.15B |
| Exchange | NYQ |
Technical Analysis (LMT)
Nexqual's technical model rates LMT "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 08:36 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 77.38 (overbought) |
| vs SMA50 | Above (USD 540.01) |
| MACD | 7.65 (positive) |
Analyst Ratings (LMT)
Wall Street analysts rate LMT "Hold" based on 23 analysts, with a mean price target of USD 632.9 (range USD 498–756), per Nexqual as of October 23, 2026 at 08:36 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 23 |
| Mean Target | USD 632.9 |
| High Target | USD 756 |
| Low Target | USD 498 |
| Buy / Hold / Sell | 10 / 12 / 1 |
Earnings (LMT)
| Next Earnings Date | 2026-10-22 |
|---|---|
| EPS Estimate | USD 8.48 |
| Revenue Estimate | $22.56B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 7.97 vs est 7.52 ▲ beat |
| 2026-06-30 | USD 7.94 vs est 7.19 ▲ beat |
| 2026-03-31 | USD 6.44 vs est 6.69 ▼ miss |
| 2025-12-31 | USD 5.8 vs est 5.75 ▲ beat |
Source: Nexqual, October 23, 2026 at 08:36 UTC.
Financials & Fundamentals (LMT)
| Total Revenue | $77.01B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +10.50% |
| Gross Margin | +11.80% |
| Operating Margin | +11.96% |
| Profit Margin | +8.16% |
| ROE | +89.17% |
| Debt / Equity | 2.34 |
| Current Ratio | 1.19 |
| Total Cash | $3.79B |
| Total Debt | $20.54B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $8.38B (10.6% of revenue) |
Source: Nexqual, October 23, 2026 at 08:36 UTC.
Financial Health Score (LMT)
Nexqual rates Lockheed Martin Corporation's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 08:36 UTC.
| Growth | Solid — Revenue +6% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 12%, operating 12% (last 12 months) |
| Balance Sheet | Weak — $5.96B cash and investments vs $20.5B debt (Sep 2026, SEC) |
| Cash Flow | Solid — FCF $8.38B (last 4 quarters to Sep 2026, SEC), 11% margin |
| Efficiency | Strong — ROE 89%, ROA 8.6% |
Ownership (LMT)
| Insider Ownership | +0.11% |
|---|---|
| Institutional Ownership | +76.72% |
| Shares Outstanding | 230.79M |
| Float | 197.40M |
| Short % of Float | +1.42% |
Source: Nexqual, October 23, 2026 at 08:36 UTC.
Leadership (LMT)
Lockheed Martin Corporation is led by James D. Taiclet, Chairman, President & CEO, per Nexqual as of October 23, 2026 at 08:36 UTC.
| Chairman, President & CEO | James D. Taiclet |
|---|---|
| Chief Financial Officer | Evan T. Scott |
| Chief Operating Officer | Frank A. St. John |
| Senior Vice President, General Counsel & Corporate Secretary | Kevin James O'Connor |
| President of Missiles & Fire Control | Timothy S. Cahill |
Major Backers & Investors (LMT)
Notable institutional backers of Lockheed Martin Corporation include Charles Schwab Investment Management, Inc., Morgan Stanley, Charles Schwab, according to Nexqual as of October 23, 2026 at 08:36 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Charles Schwab Investment Management, Inc. | 3.38% |
| Morgan Stanley | 2.47% |
| Charles Schwab | 2.1% |
| Fidelity | 1.14% |
| Invesco | 1.05% |
| Bank of America Corporation | 0.99% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| State Street | 14.29% |
| Vanguard Group | 8.54% |
| BlackRock | 8.18% |
| Geode Capital | 2.26% |
Source: Nexqual, October 23, 2026 at 08:36 UTC.
From Lockheed Martin Corporation's Latest SEC 10-K Filing (filed 2026-01-29)
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to extensive procurement and other laws, regulations, and contract terms, including those that enable the U.S. Government to terminate contracts for convenience. Our business and reputation could be adversely affected if we or those we do business with fail to comply with these laws, regulations, or terms.
- Risks Related to Significant Contingencies, Uncertainties and Estimates, including Pension, Taxes, Environmental and Litigation Costs
- Changes in tax laws and regulations and interpretations or exposure to additional tax liabilities could adversely affect our financial results.
- We are subject to income and other taxes in the U.S. and foreign jurisdictions. Changes in U.S. (federal or state) or foreign tax laws and regulations, or their interpretation and application, including those with retroactive effect, could result in increases in our tax expense and affect profitability and cash flows.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BA | Boeing Company (The) | USD 187.55 | ▼ 2.46% |
| GD | General Dynamics Corporation | USD 350.79 | ▲ 1.76% |
| HWM | Howmet Aerospace Inc. | USD 193.29 | ▼ 7.14% |
| NOC | Northrop Grumman Corporation | USD 552.35 | ▲ 2.42% |
| RTX | RTX Corporation | USD 194.71 | ▲ 1.62% |
| TDG | Transdigm Group Incorporated | USD 1,141.74 | ▲ 1.09% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 08:36 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt