Lockheed Martin Supercharges US Missile Production With $300 Million Texas Investment

Lockheed Martin Corp. (NYSE:LMT) stock rose in Thursday’s premarket trading after the company announced plans to create 6,000 U.S. jobs and expand munitions production.Texas Expansion and Hadrian PartnershipThe defense technology company said 2,000 of the planned jobs would be in Texas, backed by a $300 million Grand Prairie investment.The expansion will increase the site’s manufacturing footprint to more than 735,000 square feet. It includes 100,000 square feet of new space and 85,000 square feet of converted offices.Lockheed expects to add nearly 100 advanced machines across Grand Prairie by the end of 2026.Hadrian will supply a 24-machine automated machining cell for Lockheed employees to operate. The company expects the equipment to begin operating in early 2027, adding capacity for critical defense components.The expansion will support Lockheed Martin’s missile programs, including PAC-3 MSE, THAAD, Precision Strike Missile (PrSM) and Joint Air-to-Ground Missile (JATM).The Texas investment is part of Lockheed’s plan to spend $8 billion to $9 billion through 2030. The company plans to increase munitions production and modernize or expand more than 20 U.S. facilities.Avio Agreement Expands Rocket Motor SupplyLockheed also announced a separate cooperation agreement with Avio, securing access to a portion of its solid rocket motor supply capacity.Following qualification, Avio USA would initially produce motors for Extended Range GMLRS and the Precision Strike Missile. Production would take place at its new facility in Hurt, Virginia.Avio CEO Giulio Ranzo said the company had launched an investment exceeding $500 million in new U.S. solid rocket motor production capacity. See More: Top Value Stocks LMT Technical OutlookLockheed Martin remains below its 50-day and 200-day moving averages, keeping the broader technical trend under pressure. Shares trade 3.4% below the 50-day SMA and 6.8% below the 200-day SMA.Momentum is mixed. The RSI of 50.13 signals neutral conditions, while the MACD remains above its signal line, pointing to some near-term bullish momentum.The stock formed a death cross in June, when the 50-day SMA fell below the 200-day SMA, reinforcing the weaker longer-term setup.LMT has gained 4.57% over the past 12 months but sits at 34.8% of its 52-week range, placing it closer to its yearly low than its high. Key Resistance: $542.50 — a break above could strengthen the recovery. Key Support: $490.00 — a move below could signal further downside. Earnings Preview and Analyst OutlookLockheed is scheduled to report earnings on Oct. 22. Analysts expect earnings of $7.43 per share, up from $6.95 a year earlier, and revenue of $20.46 billion, up from $18.61 billion.The stock trades at a price-to-earnings ratio of 19.3. LMT carries a Hold consensus and an average analyst price forecast of $632.56 across 14 analysts, with targets ranging from $554 to $700.Bernstein lowered its target to $564 with a Market Perform rating on Oct. 14. TD Cowen cut its target to $570 with a Hold rating on Oct. 9, while Barclays initiated coverage that day at Equal-Weight with a $554 target.LMT Stock Price Activity: Lockheed Martin shares were up 0.71% at $525.94 during premarket trading on Thursday, according to Benzinga Pro data.Image via Shutterstock Read Also: Boeing Wins $14.7 Billion PAC-3 Seeker Production Contract From Lockheed