Lockheed Martin (NYSE:LMT) shares are down on Tuesday.
The company announced it successfully launched the final GPS III satellite, enhancing the resilience and accuracy of the GPS constellation.
This launch is part of Lockheed Martin’s ongoing commitment to delivering advanced satellite capabilities, which is contributing to positive market sentiment surrounding the stock.
The news comes as the broader market experienced a mild retreat on Tuesday, with the S&P 500 sliding 0.09% and the Dow Jones gaining 0.01%.
The final GPS III satellite, known as SV10, was launched from Cape Canaveral Space Force Station, marking a milestone in Lockheed Martin’s efforts to enhance global positioning capabilities.
This satellite adds critical upgrades, including improved anti-jamming performance and optical communication capabilities, paving the way for the next-generation GPS IIIF satellites.
Peer Earnings Strength
Meanwhile, Lockheed’s top peer RTX Corporation (NYSE:RTX) reported first-quarter earnings of $1.78 per share, which beat the analyst consensus estimate of $1.52. The company reported quarterly sales of $22.100 billion, which beat the analyst consensus estimate of $21.446 billion.
RTX affirmed 2026 adjusted EPS guidance of $6.60-$6.80, and sales outlook of $92 billion-$93 billion.
Technical Analysis
Lockheed Martin is currently trading within a solid range, positioned approximately 16.0% below its 20-day simple moving average (SMA) and 8.3% below its 50-day SMA, indicating a bearish short-term trend. However, the stock is trading 0.9% above its 100-day SMA, suggesting some intermediate strength, while it remains 11.8% above its 200-day SMA, reflecting a longer-term bullish trend.
The relative strength index (RSI) is at 32.86, which is neutral but indicates that the stock is not currently overbought or oversold. This suggests that there may be room for price movement in either direction without immediate pressure from momentum traders.
- Key Resistance: $638.00 — A level where selling pressure has historically emerged.
- Key Support: $476.50 — A critical level that has previously provided buying interest.
Lockheed Martin has shown a strong 12-month performance of 26.83%, indicating a solid upward trajectory over the past year.
Currently, the stock is trading near the middle of its 52-week range, which suggests a balanced market sentiment as it navigates through recent developments.
Lockheed Martin is the world’s largest defense contractor and has dominated the Western market for high-end fighter aircraft since it won the F-35 Joint Strike Fighter program in 2001.
Aeronautics is Lockheed’s largest segment, which derives upward of two-thirds of its revenue from the F-35.
Earnings & Analyst Outlook
The countdown is on: Lockheed Martin is set to report earnings on April 23, 2026 (confirmed).
- EPS Estimate: $6.66 (Down from $7.28)
- Revenue Estimate: $18.21 Billion (Up from $17.96 Billion)
- Valuation: P/E of 27.0x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $624.36. Recent analyst moves include:
- Jefferies: Hold (Raises Target to $640.00) (April 7)
- Citigroup: Neutral (Raises Target to $675.00) (April 2)
- Wells Fargo: Initiated with Equal-Weight (Target $650.00) (April 1)
Top ETF Exposure
- iShares US Aerospace & Defense ETF (BATS:ITA): 4.58% Weight
- Global X Defense Tech ETF (NYSE:SHLD): 9.01% Weight
- Invesco Aerospace & Defense ETF (NYSE:PPA): 7.53% Weight
Significance: Because LMT carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
LMT Price Action: Lockheed Martin shares were down 1.73% at $571.22 at the time of publication on Tuesday, according to Benzinga Pro data.
Photo by JHVEPhoto via Shutterstock.com
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