In light of conflicts in the Middle East and Ukraine, one might assume that aerospace/defense giant Lockheed Martin (NYSE: LMT) would be a darling on Wall Street. Yet, Lockheed Martin stock gained little ground in 2024's first half.

Then July came around, and suddenly Lockheed Martin stock's trajectory went from horizontal to vertical. This raises the question of "Is it too late to invest?" and, just as importantly, "What sent the stock soaring?" As it turns out, Lockheed Martin's Street-beating results and optimistic outlook suggest that a sustained share-price rally may be in store.

It's not difficult to figure out why Lockheed Martin stock flew in July. The primary catalyst was the company's second-quarter report, which certainly had some positive highlights.

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Source Fool.com