Truist Financial revised its price target for Lockheed Martin to $695, implying a potential gain of 9.41% from recent levels. This outlook reflects confidence in the company’s aeronautics and missile systems franchises, particularly as new U.S. defense budgets prioritize modernization programs. Truist cited robust backlog growth and improved free cash flow projections as key drivers supporting its more bullish valuation.

Alpha Cubed Investments LLC increased its position in Lockheed Martin by 105%, now holding 60,601 shares valued at approximately $30.25 million. This stake represents 1.1% of Alpha Cubed’s portfolio and ranks Lockheed Martin as its 23rd largest holding. Valley Wealth Managers Inc. also added 3.7%, bringing its total to 8,010 shares (around $4 million). These moves underscore growing institutional conviction in the defense contractor’s long-term earnings power and dividend capacity.

Lockheed Martin is on track for its strongest monthly return since 1980, following an upbeat earnings outlook and escalating orders for interceptor missiles and advanced fighter jets from the U.S. Department of Defense. The company reported that missile procurement requests rose by double digits during the quarter, while its F-35 program secured new multi-year funding. Analysts attribute the rally to solid revenue visibility and a share buyback plan that supports steady EPS growth.