Lockheed Martin Wins $871M Navy Contract for F-35 Site Activation
LMT sits 22% above its 52-week low of $437.25 on elevated volume (2.4× avg).
Summary
Lockheed Martin secured an $871.2 million Navy contract add-on for F-35 site activation and sustainment, covering land-based and at-sea operations for the Air Force, Marine Corps, Navy, and foreign military sales customers. Work runs through February 2031, with 90% in El Segundo, California. This follows a string of major defense awards this year, including $35B for THAAD and $58.6B for PAC-3 interceptors, reinforcing the company's backlog strength. The contract is modest relative to recent wins but adds to a robust pipeline of F-35 sustainment work.
At the time of this announcement, LMT was trading at $533.27 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $123.1B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.