Lockheed Martin’s (NYSE:LMT) multi-year growth outlook is facing serious headwinds following a wave of unexpected charges and operational setbacks, prompting Truist Securities to downgrade the defense giant from Buy to Hold.

Lockheed Martin stock bounced early Wednesday after a dreadful Tuesday. Despite the higher stock price, Wall Street has some concerns about the defense contractor, and one analyst even downgraded the shares.

Shares of security and Aerospace company Lockheed Martin (NYSE:LMT) fell 6.6% in the morning session after the company reported disappointing second-quarter results and sharply lowered its full-year profit forecast.

Lockheed Martin's stock dip post-earnings presents a buy opportunity with strong demand, growth catalysts, and a 22-year dividend streak. Learn more on LMT stock here.

Lockheed Martin stock bounced early Wednesday after a dreadful Tuesday. Despite the higher stock price, Wall Street has some concerns about the defense contractor.

Lockheed Martin reported on Tuesday that its second-quarter profit plunged by about 80%, after the U.S. defense group recorded a pretax loss of $1.6 billion, mainly linked to a classified program within its Aeronautics segment,

Lockheed Martin Corp. shares plunged as much as 9%, the biggest drop since January, after the world’s largest defense contractor reported earnings that missed analyst estimates, lowered its outlook for the year and racked up $1.

The defense contractors’ stocks move in opposite directions after Lockheed discloses $1.6 billion in losses on its legacy defense business.

Lockheed Martin faces Wall Street pressure after mixed Q2 results and $1.6B in charges. Goldman Sachs analyst reiterates Sell rating and lowers price forecast. Other analysts also cautious. Margins hit by legacy program charges.

I maintain a bullish stance on the defense sector, and I'm bullish on both RTX as well as Lockheed Martin (LMT). See why RTX takes the crown in this matchup.