Lockheed Martin (NYSE:LMT) is pursuing a roughly $3.5B buy of undersea-defenses maker Ultra Maritime while navigating a mixed Q1 showing, a $3B Army radar win and a Citi upgrade to Buy — news that nudged shares after hours as investors eye Q2 results due July 23.
Previous Week Recap
- Lockheed Leads Ultra Maritime Buy: Lockheed Martin is reportedly leading talks to buy Ultra Maritime for about $3.5B. Ultra supplies anti‑submarine, undersea defense gear. Deal news moved LMT shares slightly after hours.
- Lockheed Q1 Revenue Missed Estimates: Lockheed Martin Q1 revenue $18.02B, flat year‑over‑year and ~0.9% below estimates; missed adjusted operating income and EPS. Shares traded near $544, down about 2.1% after results.
- Lockheed Wins $3B Sentinel Contract: Lockheed Martin won a $3.0B U.S. Army contract to build Sentinel A4 air and missile defense radars and provide engineering support through June 29, 2031; funding and work sites set by task orders.
- Citigroup Upgrades Lockheed To Buy: Citigroup upgraded Lockheed Martin (LMT) to Buy and raised its price target to $582, citing stronger fundamentals, rapid missile and fire-control segment growth, and recent major contract wins.
- Lockheed Q2 2026 Earnings Date: Lockheed Martin (LMT) will report Q2 2026 results before market open on July 23, 2026, with an 8:30 a.m. ET live earnings call and webcast; slides, replay and on-demand available through Aug 6.
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