Lockheed Martin Corporation (LMT): "The Long Knives Are Out," Says Jim Cramer

We recently published 12 Stocks Jim Cramer Discussed As He Said “Pilots Are Too Expensive”. Lockheed Martin Corporation (NYSE:LMT) is one of the stocks Jim Cramer recently discussed.

Lockheed Martin Corporation (NYSE:LMT) created quite a bit of chatter on the market when it announced a massive $1.6 billion loss from a classified aeronautics projects during its Q2 earnings. Naturally, investors were intrigued as to what could have driven the loss. Year-to-date, Lockheed Martin Corporation (NYSE:LMT)’s shares 12.1% primarily on the back of its latest earnings report. Cramer made the following remarks immediately after the widely-discussed earnings report:

“Well we don’t really know there was a stealth problem, we’re not sure exactly what went wrong. I will say, much to my chagrin because I really, really like ’em. The long knives are out for James Taiclet. Lockheed. They just are. All we ever hear about is the stock’s not going to make, you know the company’s not that great. Now you do have this F-35 program, and we can talk about that because we have RTX there. RTX seems to be doing better with that. And you know David I think that, when I look at what James is doing, I mean I don’t know the program that he’s being hurt by.”

In his earlier comments, Cramer was full of praise for Lockheed Martin Corporation (NYSE:LMT) and CEO James Taiclet:

“I like Lockheed Martin too much to tell you to do that. Every time I see Jim Taiclet, I say to myself, why does anyone want to sell that stock with a 3% yield and a great book of business and a terrific CEO? No, you stay long, Lockheed Martin.”

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Disclosure: None. This article is originally published at Insider Monkey.