Key Stats for Lockheed Martin Stock
- Price change for Lockheed Martin stock: -3%
- $LMT Share Price as of Apr. 24: $513
- 52-Week High: $692
- $LMT Stock Price Target: $653
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What Happened?
Lockheed Martin (LMT) stock extended its losing streak to nine straight days on Friday, capping an ugly earnings week with a final 4% drop. The catalyst is now clear after the company reported a disappointing quarter on multiple fronts.
- Q1 EPS came in at $6.44, about $0.30 below what analysts expected.
- Sales were flat year-over-year at $18 billion.
- Free cash flow was negative for the quarter.
- None of those numbers is what investors wanted to see from a defense giant with a backlog as large as Lockheed’s.
The morning after earnings, four analysts cut their price targets on Lockheed Martin stock.
- Susquehanna lowered its target to $700.
- Morgan Stanley went to $653.
- Bank of America dropped to $600.
- RBC Capital is the most cautious at $575 — and even at that level, they only rate the stock “sector perform,” not a buy.
- RBC’s main concern is the book-to-bill ratio of just 0.6 for the quarter; Lockheed brought in only $0.60 in new orders for every dollar of revenue it recognized. That’s a worrying sign.
There were legitimate operational headwinds.
- Design and development delays hit the F-16 program.
- Supply chain challenges on the C-130 persisted from 2025.
- Both issues weighed on Aeronautics, the company’s largest segment.
- Management said C-130 deliveries have resumed — four aircraft were delivered as of the earnings call — and they expect margins to improve in the second half.
The headline positives are real too.
- Lockheed signed a $1.5 billion contract with Peru for F-16s this week.
- PAC-3 missile production is ramping rapidly, with a $4.8 billion new contract signed in April.
- The company reaffirmed full-year guidance, including mid-single-digit sales growth and free cash flow of $6.5–$6.8 billion.
- Management also cited the Artemis II mission around the moon as a successful showcase for the company’s Orion spacecraft.
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What the Market Is Telling Us About Lockheed Martin Stock
Even the most bearish analyst thinks Lockheed Martin stock is worth more than its current price. That’s notable.
The sell-off looks more like an earnings quality problem than a fundamental collapse in the business.
Lockheed Martin stock is almost flat (3% up) year-to-date. Defense budgets are growing. Demand for PAC-3, THAAD, and F-35 systems is rising globally. The core business is not broken.
But with soft bookings, negative Q1 free cash flow, and execution issues in Aeronautics, Lockheed Martin stock needs a cleaner quarter to rebuild confidence.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
