BNP Paribas Exane Initiates Lockheed Martin (LMT) with Outperform, Sets $550 Target

Core Insights - Lockheed Martin Corporation (NYSE:LMT) is recognized as one of the best long-term stocks to buy according to Reddit [1] - BNP Paribas Exane initiated coverage of Lockheed Martin with an Outperform rating and a price target of $550 [2] - In Q3 2025, Lockheed Martin reported $18.8 billion in revenue, an 8.8% increase year-over-year, with a record backlog of $179 billion [3] - The company announced a 4.5% increase in its quarterly dividend to $3.45 per share, marking 23 consecutive years of dividend growth [4] - Lockheed Martin is the largest defense contractor globally and the primary contractor for the F-35 Joint Strike Fighter [5] Financial Performance - Revenue for Q3 2025 reached $18.8 billion, reflecting an 8.8% increase from the previous year [3] - The company's backlog has reached a record $179 billion, indicating strong demand and customer confidence [3] Shareholder Returns - Lockheed Martin increased its quarterly dividend by 4.5% to $3.45 per share, continuing its trend of dividend growth for 23 years [4] - The company expanded its share buyback authorization by $2 billion, totaling approximately $9.1 billion available for repurchases [4] Market Position - Lockheed Martin is the world's largest defense contractor and the biggest supplier to the US government [5] - The company is the primary contractor for the F-35 Joint Strike Fighter, noted as the most expensive aircraft ever produced [5]