Jefferies Turns More Cautious on Lockheed Martin (LMT) Ahead of Q2 Earnings

Lockheed Martin Corporation (NYSE:LMT) is included among Billionaire Steven Cohen’s Top 11 Dividend Stock Picks.

Jefferies Turns More Cautious on Lockheed Martin (LMT) Ahead of Q2 Earnings

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On June 25, Jefferies lowered its price recommendation on Lockheed Martin Corporation (NYSE:LMT) to $575 from $595. It reiterated a Hold rating on the stock. The firm expects second-quarter revenue growth to accelerate to 5%, but trimmed its earnings-per-share estimate to $6.80 from $6.89. That forecast also falls below the consensus estimate of $7.22, as Jefferies expects weaker margins in the company’s Aeronautics and Space businesses.

During the Q1 2026 earnings call, Senior Vice President and CFO Evan Scott said the company was reaffirming its full-year 2026 financial guidance. He said the outlook remains in line with the expectations shared in January, including mid-single-digit sales growth, profit of $8.4 billion to $8.7 billion, and free cash flow between $6.5 billion and $6.8 billion.

Scott added that margins are expected to improve as the year moves forward, with most of the improvement coming in the second half of 2026. He said the gains should be supported by the achievement of key production milestones and the retirement of major program risks.

Lockheed Martin Corporation (NYSE:LMT) is an aerospace and defense technology company. It operates through four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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