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Lockheed Martin Corporation (NYSE:LMT) is among the 10 Best Large Cap Defense Stocks to Buy According to Hedge Funds. On May 1, the defense contractor announced that it had received a contract from the U.S. Space Force Space Systems Command to build capabilities to support the Space-Based Interceptor (SBI) program.
The agreement will focus on fast-tracking the development and integration of these capabilities and deliver an early engagement layer for missile defense. According to the company’s press release, the layer will increase coverage, improve survivability, and further bolster deterrence against incoming threats.
In other news, Lockheed Martin Corporation (NYSE:LMT) reported financial results for the first quarter of 2026 on April 23. It posted a revenue of $18 billion, remaining flat year-over-year and missing estimates of $18.24 billion. Net earnings came in at $6.44 per share, shy of expectations by 28 cents, and down from $7.28 in the prior year.
The defense giant said the decrease in earnings was driven by reduced profit and mark-to-market losses from ‘changes in the fair value of investments and liabilities for deferred compensation plans’. The company retained its full-year outlook shared in January.
Lockheed Martin Corporation (NYSE:LMT) is one of the world’s largest defense contractors. It specializes in the research, design, and development of advanced technology systems, products, and services. It is famed for manufacturing notable fighter jets, including the F-35.
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