Lockheed's PrSM Increment 2 Hits Moving Maritime Target in Second Flight Test
LMT sits 20% above its 52-week low of $437.25.
Summary
The $1.2B IDIQ contract was already known, but the second successful flight test is new. The missile engaged a moving maritime target using Strigo-based guidance upgrades, validating a key capability for the Army's long-range precision fires. This de-risks the program and supports the production ramp under the recently awarded contract. Watch for further test milestones and initial delivery orders.
At the time of this announcement, LMT was trading at $523.56 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $120.6B. 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 7 out of 10. Source: Wiseek News.