Lockheed Martin ( LMT +3.81%) stock gained for a second straight day Friday, rising 4.2% through 11:50 a.m. ET after Truist Securities analyst Michael Ciarmoli upgraded the defense giant to buy with a $605 price target, as StreetInsider.com reports.

Shares in defense contractors such as Lockheed Martin and Northrop Grumman slumped Wednesday after President Donald Trump pledged to block the companies’ dividends, stock buybacks and what he described as “Over Compensation of Executives” until the sector speeds up its production and maintenance of military equipment.

President Donald Trump took aim at defense contractors on Wednesday in an executive order.

Defense stocks including Lockheed Martin, Northrop Grumman and General Dynamics fell Wednesday afternoon after reports that President Trump is set to sign an executive order that will punish defense companies that repurchase stocks,

Lockheed Martin reported producing a record-breaking number of F-35s in 2025, and expanding its orders abroad—even as some nations have scaled back or withdrawn from the program.

The defense contractor said it plans to increase annual production of advanced Patriot missile interceptors from 600 to 2,000.

The defense contractor committed to surging its Patriot missile output to roughly 2,000 interceptors a year in response to demand from Pentagon officials gearing up for conflicts on multiple fronts.

Lockheed Martin said on Wednesday it delivered 191 F-35 fighter jets in 2025 to the United States and its allies, a record for the program.

President Donald Trump rattled the defense sector yesterday by signing an executive order prohibiting contractors from issuing dividends or repurchasing shares until they prioritize investments in new facilities and machinery to boost production speed and quality.

The president’s populist-style attack on defense industry executives is part of a larger Pentagon strategy to transform the role of contractors.