Lockheed Martin Secures $1.15B Navy Contract Modification
January 7, 2024
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The new Navy contract modification will be used to procure additional materials and resources for the previously awarded engineering and technical services contract for the Littoral Combat Ship (LCS) program. The LCS is a fast, agile surface combatant designed to operate in shallow coastal waters. The newly acquired funds will help ensure that the engineering team has all of the necessary resources to meet the program’s needs. In recent news, Lockheed Martin ($NYSE:LMT)’s stock has also seen considerable growth over the last several months.
The company’s overall performance over the long term has been quite positive and it continues to bring value to both its shareholders and customers. Thanks to the company’s steady success, Lockheed Martin was able to announce the new Navy contract modification and achieve another major milestone.
Market Price
On Friday, Lockheed Martin announced that it had secured a $1.15 billion U.S. Navy contract modification. In response to the news, Lockheed Martin’s stock opened at $460.0 and closed at $456.5, down 0.3% from its prior closing price of 457.9. This contract modification marks a continuation of Lockheed Martin’s strong relationship with the U.S. Navy and reflects the confidence the Navy has in the company to deliver high quality services and products. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lockheed Martin. More…
| Total Revenues | Net Income | Net Margin |
| 67.69k | 6.97k | 10.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lockheed Martin. More…
| Operations | Investing | Financing |
| 7.48k | -1.8k | -4.56k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lockheed Martin. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 56.67k | 47.39k | 37.55 |
Key Ratios Snapshot
Some of the financial key ratios for Lockheed Martin are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.8% | -0.2% | 13.3% |
| FCF Margin | ROE | ROA |
| 8.6% | 60.8% | 9.9% |
Analysis
GoodWhale recently conducted an analysis of LOCKHEED MARTIN’s wellbeing, and based on our Star Chart, we classified them as ‘Cow’, a type of company with a track record of paying out consistent and sustainable dividends. This means that LOCKHEED MARTIN is likely to be attractive to dividend investors. The analysis also revealed that LOCKHEED MARTIN has a high health score of 8/10 with regard to its cashflows and debt. This indicates that the company is capable of paying off debt and funding future operations, making them a relatively safe investment for those seeking stable returns. LOCKHEED MARTIN also proved to be strong in Dividend, Profitability, and medium in Growth. However, they were weaker in Assets, suggesting a lack of capital and a potential for decreased returns if the company does not secure more funds. More…
Peers
The U.S. Department of Defense (DoD) spends billions of dollars on weapons systems each year. Major weapons systems contractors compete for these funds. The competition among these companies is fierce. The companies must not only offer the best products, but they must also be able to demonstrate to the DoD that their products are superior to those of their competitors.
Lockheed Martin Corp is one of the largest weapons systems contractors in the United States. The company’s main competitors are Northrop Grumman Corp, Ballistic Recovery Systems Inc, and LIG Nex1 Co Ltd.
– Northrop Grumman Corp ($NYSE:NOC)
Northrop Grumman Corp is an American aerospace and defense technology company with a market cap of 78.41B as of 2022. The company has a Return on Equity of 34.54%. Northrop Grumman Corp is a leading provider of aircraft, logistics, and technology solutions for the U.S. military, government, and commercial customers. The company’s products and services include aircraft, space systems, missiles, electronics, and technical services.
– Ballistic Recovery Systems Inc ($OTCPK:BRSI)
Ballistic Recovery Systems Inc is a world leader in the design, manufacture, and deployment of parachutes and other soft goods for the aerospace industry. The company has a market cap of 4.19M as of 2022 and a ROE of -159.06%. Ballistic Recovery Systems Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol BRS.
– LIG Nex1 Co Ltd ($KOSE:079550)
LIG Nex1 Co Ltd is a South Korean defense company specializing in electronics and weaponry. It was founded in 1999 and is headquartered in Seoul. The company has a market cap of 1.87T as of 2022 and a Return on Equity of 14.92%. LIG Nex1 Co Ltd develops, manufactures, and supplies electronics and weapons products for the military, law enforcement, and commercial markets worldwide. The company’s products include radar systems, sonar systems, electronic warfare systems, communication systems, navigation systems, and missile systems.
Summary
Lockheed Martin, a leading aerospace and defense company, has recently secured a $1.15B contract modification from the U.S. Navy. The U.S. Department of Defense confirmed the contract, which will cover a variety of services and supplies for its Tactical Tomahawk and Persistent Close Air Support programs. With this large-scale contract in the books, investors may be looking to Lockheed Martin as a possible long-term investment opportunity.
Lockheed Martin has an impressive track record of producing consistent earnings and dividends, and is well-positioned to benefit from increased defense spending in the near future. Overall, Lockheed Martin appears to be a solid long-term investment for those seeking stability and potential dividend growth.
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