Lockheed Martin Wins $1.2B Army Contract for Precision Strike Missile Increment 2
LMT sits 22% above its 52-week low of $437.25.
Summary
The U.S. Army awarded Lockheed Martin an IDIQ contract worth up to $1.2 billion for PrSM Increment 2 production, moving the program from development into manufacturing. This follows a second successful flight test in August that demonstrated engagement of moving maritime targets. The award expands Lockheed's long-range precision fires portfolio and adds to a backlog already at $230.4B. Production will begin immediately while additional flight tests continue into 2027.
At the time of this announcement, LMT was trading at $535.50 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $123.6B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.