Lockheed Martin Wins $297M Navy and $724M Japan Aegis Contracts
LMT sits 17% above its 52-week low of $437.25.
Summary
Lockheed Martin secured two new contract modifications: a $297M U.S. Navy award for F/A-18E/F Infrared Search and Track Block II systems and a $724M modification for Japan's Aegis System-equipped vessels, raising that contract's total value to $2.36B. These awards add to a string of recent defense wins, including a $58.6B PAC-3 MSE contract and a $1.2B PrSM Increment 2 IDIQ, reinforcing the company's strong backlog momentum. The work spans multiple locations and extends into 2030-2031, providing long-term revenue visibility. While individually modest relative to Lockheed's $118B market cap, the cumulative effect of these awards underscores sustained demand for missile defense and naval systems.
At the time of this announcement, LMT was trading at $513.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $118.2B. 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 7 out of 10. Source: Seeking Alpha.