|Over a week ago|
Quatar requests to purchase Lockheed Martin F-35 jets, Reuters reports » 15:5610/0710/07/20
Qatar has submitted a…
Qatar has submitted a request to the United States in recent weeks to buy F-35 fighter jets, Mike Stone of Reuters reported, citing three people familiar with the deal. The deal, if pursued, could reportedly strain U.S. relationships with Saudi Arabia and Israel. A U.S. State Department spokesman would not confirm or comment on the proposed defense sales until they are notified to Congress formally. Reference Link
Triumph Group signs pact to provide high-speed gearboxes for Lockheed C-5 Galaxy » 15:1510/0710/07/20
Triumph Group (TGI])announced that it has signed a five-year agreement with Linmarr Associates, a Defense Logistics Agency distributor for the U.S. Air Force, to provide 30 new spare high-speed gearboxes for the Lockheed (LMT) C-5 Galaxy. The gearboxes are part of the landing gear door actuation system also provided by Triumph Group.
Lockheed Martin awarded $498.44M Navy contract modification » 17:2609/3009/30/20
Lockheed Martin was…
Lockheed Martin was awarded a $498.44M fixed-price-incentive, cost-plus-incentive-fee and cost-plus-fixed-fee modification to a previously awarded and announced unpriced letter contract for Trident II missile production and deployed systems support. Work is expected to be completed September 30, 2026. The maximum dollar value of the modification, including the base and all option items, if exercised, is $1.22B. FY20 weapons procurement funds in the amount of $45.08M; FY19 weapons procurement funds in the amount of $11.27M and United Kingdom funds in the amount of $4.40M are being obligated on this award, none of which will expire at the end of the current fiscal year. This contract is being awarded to the contractor on a sole-source basis under 10 U.S. Code 2304 and was previously synopsized on the Federal Business Opportunities website. Strategic Systems Programs is the contracting activity.
Lockheed Martin awarded $709.79M Navy contract modification » 18:2409/2809/28/20
Lockheed Martin was…
Lockheed Martin was awarded a $709.79M modification to a previously awarded fixed-price-incentive-firm-target advance acquisition contract. This modification provides for the procurement of economic order quantities of material in support of F-35 Lightning II aircraft low rate initial production Lots 15, 16 and 17 for the Air Force, Marine Corps, Navy, non-Department of Defense, or DoD, participants and foreign military sales, or FMS, customers. Work is expected to be completed in May 2026. FY20 aircraft procurement funds in the amount of $260.38M; FY20 aircraft procurement funds in the amount of $245.41M; non-DoD participant funds in the amount of $141.76M and FMS funds in the amount of $62.24M, will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.
Lockheed Martin announces additional $1.3B share repurchase program » 18:3509/2509/25/20
Lockheed Martin's board has authorized the purchase of up to an additional $1.3B of Lockheed Martin common stock under its share repurchase program. With this increase, total authorization for future repurchases under the share repurchase program is approximately $3B.
Lockheed Martin raises quarterly dividend to $2.60 from $2.40 per share » 18:3409/2509/25/20
The dividend is payable…
The dividend is payable on Dec. 24 to holders of record as of the close of business on Dec. 1.
Lockheed Martin awarded $245.44M Navy contract modification » 17:2209/2409/24/20
Lockheed Martin was…
Lockheed Martin was awarded a $245.44M modification to definitize a previously awarded cost-plus-incentive-fee undefinitized contract. This modification extends services and adds hours in support of engineering, maintenance, logistics manpower and material support to continue to develop, sustain and produce software builds as well as carryout developmental flight tests for the Joint Strike Fighter aircraft in support of the Navy, Marine Corps, Air Force and non-Department of Defense, or DoD, participants. Additionally, this modification provides unique sea trials on aircraft carriers for non-DoD participants. Work is expected to be completed in March 2022. FY20 research, development, test and evaluation funds in the amount of $2.67M; FY20 research, development, test and evaluation funds in the amount of $2.67M; FY20 operations and maintenance funds in the amount of $373,471; FY20 operations and maintenance funds in the amount of $373,470 and non-DoD participant funds in the amount of $7.47M will be obligated at time of award, $746,941 of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.
U.S., UAE look to have F-35 deal by December, Reuters reports » 08:2209/2209/22/20
The U.S. and the UAE hope…
The U.S. and the UAE hope to have an initial agreement on the sale of F-35 stealth fighter jets to the Gulf state in place by December, Reuters' Mike Stone reports. According to sources, the goal is to have a letter of agreement in place in time for UAE National Day celebrated on December 2. Reference Link
Lockheed Martin downgraded to Buy from Conviction Buy at Goldman Sachs » 21:1109/2009/20/20
LMT, BA, RTX
Goldman Sachs analyst…
Goldman Sachs analyst Noah Poponak removed Lockheed Martin (LMT) from the firm's Conviction List while keeping a Buy rating on the shares with a price target of $447, down from $501. Lockheed's new order bookings continue to outpace the industry on average, "supporting further outgrowth ahead," Poponak tells investors in a research note. The analyst, however, sees more upside in Aerospace stocks like Boeing (BA) and Raytheon Technologies (RTX), two stocks added to Goldman's Conviction List.
|Over a month ago|
BAE Systems awarded contract from Lockheed Martin » 08:0709/1409/14/20
BAE Systems (BAESY) said…
BAE Systems (BAESY) said in a release, "BAE Systems has been awarded a contract from Lockheed Martin (LMT) for the production and delivery of additional electronic warfare, or EW, systems for Lot 15, Lot 16 long lead, sustainment spares and retro fit kits for the 5th Generation F-35 Lightning II, providing advanced situational awareness and threat response capabilities that support critical missions in contested airspace. The contract follows BAE Systems' production and delivery of more than 500 EW systems for the F-35 as a key system partner, matching Lockheed Martin's airframe production. BAE Systems supports all stages of the product's lifecycle, from development and production to sustainment. The company is actively designing and developing new capabilities to enhance the system's offensive and defensive capabilities, and maintains its readiness for warfighters under a performance-based logistics sustainability contract."