Lockheed Martin's stock has dropped 15.7% in 90 days despite carrying a $194 billion（約31兆円） government backlog and maintaining a 2.7% dividend yield backed by 23 consecutive years of increases. The company stands to benefit from the White House's $1.5 trillion（約240兆円） fiscal 2027 defense budget, half of which is earmarked for weapons modernization and procurement, along with a newly itemized $13.4 billion（約2.1兆円） Pentagon allocation for AI and autonomous systems—areas where Lockheed has established expertise.
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Lockheed Martin's stock has fallen 15.7% over the past 90 days and is 27% below its 52-week high. The company announced last October that its latest dividend increase marked the 23rd consecutive year of dividend hikes. Lockheed also carries a $194 billion（約31兆円） backlog of orders from the U.S. government.
Why it matters
The White House is seeking $1.5 trillion（約240兆円） in fiscal 2027 defense spending, with roughly half allocated to weapons modernization and procurement — areas where Lockheed Martin specializes. The company's dividend yield of 2.7% is more than double that of the S&P 500, offering income investors an alternative to tech-heavy index holdings. The Pentagon budget includes $13.4 billion（約2.1兆円） dedicated to AI spending for the first time, and Lockheed has capabilities in autonomous systems that could benefit from this allocation.
What to watch
Lockheed Martin's yield of 2.7% compares with the S&P 500 and the largest industrial ETF; the company's shareholder yield (buybacks plus dividends) exceeds both. The stock currently carries exposure to U.S. defense procurement and autonomous systems development as strategic growth drivers.
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