Lockheed Martin Stock: Is LMT Outperforming the Industrial Sector?

With a market cap of $125.7 billion, Lockheed Martin Corporation (LMT) is the world’s largest defense contractor specializing in aerospace, defense, space, intelligence, and advanced technology solutions. The company operates through four core segments: Aeronautics; Missiles and Fire Control (MFC); Rotary and Mission Systems (RMS); and Space. 

Companies valued over $10 billion are generally described as “large-cap” stocks, and Lockheed Martin fits right into that category. Its primary customers include the U.S. government, allied international partners, and foreign military sales contracted through the U.S. government, all relying on Lockheed Martin to deliver advanced security and innovation.

Shares of the Bethesda, Maryland-based company have decreased 21.3% from its 52-week high of $692. Lockheed Martin’s shares have risen 5.4% over the past three months, outperforming the State Street Industrial Select Sector SPDR ETF’s (XLI) marginal gain over the same time frame. 

LMT stock is up 12.6% on a YTD basis, outpacing XLI’s 11.4% increase. In addition, shares of the aerospace and defense company have returned 19.5% over the past 52 weeks, compared to XLI’s 13.6% gain over the same time frame.

Despite a few fluctuations, the stock has been trading above its 200-day moving average since last year.

Lockheed Martin shares climbed 10.5% on Jul. 23 after the company raised its 2026 revenue outlook to $79.75 billion - $81.75 billion and full-year EPS guidance to $29.95 - $30.65. The stronger outlook was supported by nearly 20% growth in Missiles & Fire Control revenue to $4.1 billion, driven by higher PAC-3, Precision Strike and THAAD production, including a $35 billion THAAD contract to quadruple output.

Lockheed’s total backlog surged 38.3% to $230.4 billion and Q2 2026 EPS jumped to $7.94, reflecting exceptionally strong defense demand amid heightened global military activity.

In comparison, LMT stock has outpaced its rival, General Dynamics Corporation (GD). GD stock has returned 9.7% on a YTD basis and 13.8% over the past 52 weeks. 

Despite the stock’s outperformance, analysts remain cautiously optimistic about its prospects. LMT stock has a consensus rating of “Moderate Buy” from 23 analysts' coverage, and the mean price target of $636.14 is a premium of 16.8% to current levels.