LMT vs NOC — which stock performed better?

Lockheed Martin Corporation (LMT) versus Northrop Grumman Corporation (NOC), Industrials, on 2026-09-18.

Result

Northrop Grumman Corporation (NOC) performed better on 2026-09-18. LMT moved -1.160%, NOC moved 0.670%.

Why these two companies

Bloomberg reported on September 17, 2026 that defense stocks have lagged the broader market this year as traders brace for a possible Democratic 'blue wave' in the November midterms that could slow Pentagon budget growth and contract awards. Lockheed Martin and Northrop Grumman are the two largest U.S. defense primes at the center of that debate, and Northrop just confirmed its Q3 2026 earnings date for October 20, 2026, giving the matchup a concrete near-term catalyst on top of the political overhang.

The research

Lockheed Martin makes fighter jets like the F-35, along with missiles and space equipment, mostly for the U.S. military. Northrop Grumman builds the new B-21 stealth bomber plus missile-defense, space, and drone systems, also mostly for the U.S. government.

One reason to like Lockheed Martin: it's the biggest and most established name in the group, with the enormous F-35 program providing steady work for decades to come. One reason to like Northrop Grumman: its newer programs, especially the B-21 bomber, are growing fast and just pushed the company to raise its full-year sales and profit forecasts.

Both stocks have fallen well below their highs from earlier this year, mainly because investors are worried that if the political balance in Washington shifts after the November elections, military spending growth could slow down. Keep in mind both companies depend heavily on U.S. government contracts, so news about the federal budget or election results can move their shares quickly.

Northrop Grumman has already announced it will share its next quarterly results on October 20, 2026, while Lockheed Martin has not yet set an exact date for its own next quarterly report.