In the latest trading session, Lockheed Martin (LMT) closed at $344.34, marking a -0.57% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.58%.Prior to today's trading, shares of the aerospace and defense company had lost 3.87% over the past month. This has lagged the Aerospace sector's loss of 3.28% and the S&P 500's gain of 0.16% in that time.LMT will be looking to display strength as it nears its next earnings release. In that report, analysts expect LMT to post earnings of $3.36 per share. This would mark a year-over-year decline of 46.24%. Meanwhile, our latest consensus estimate is calling for revenue of $17.21 billion, up 4.32% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $23.19 per share and revenue of $68.34 billion. These totals would mark changes of -5.35% and +4.5%, respectively, from last year.Investors might also notice recent changes to analyst estimates for LMT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. LMT is holding a Zacks Rank of #3 (Hold) right now.Valuation is also important, so investors should note that LMT has a Forward P/E ratio of 14.93 right now. Its industry sports an average Forward P/E of 17.45, so we one might conclude that LMT is trading at a discount comparatively.It is also worth noting that LMT currently has a PEG ratio of 3.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 1.81 as of yesterday's close.The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow LMT in the coming trading sessions, be sure to utilize Zacks.com. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report To read this article on Zacks.com click here.