USSF Selects Lockheed Martin Corporation (LMT) For Space-Bas…

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.

vaalaa/Shutterstock.com

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.

[im-yf-promo]

While we acknowledge the potential of LMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

[/im-yf-promo]

While we acknowledge the risk and potential of LMT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LMT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT:  15 Best Big Name Stocks to Buy and 10 Best Military Drone Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.

Generated by RSStT. The copyright belongs to the original author.

Source