Lockheed Martin Aeronautics Company, a key division of
Lockheed Martin Corporation
), received a modification contract worth $101.9 million from the
U.S. Department of Defense (DoD) under the Foreign Military Sales
Per the contract, the company will provide non-recurring
engineering and maintenance support for mission systems software
and autonomic logistics development of the F-35A Conventional Take
Off and Landing Air System for the government of Israel. Lockheed
Martin will also provide autonomic logistics hardware to support
Israeli pilot training. Work under this contract will be performed
in Fort Worth, TX and is scheduled to be completed by Apr 2015.
The Aeronautics business segment includes the company's largest
program - the F-35 fighter jet. Lockheed expects rising F-35
aircraft deliveries to allied countries besides its wide uptake in
the U.S. Armed Forces. Net sales from the F-35 program comprised
approximately 16% of total consolidated net sales for the first
The F-35 continues to receive strong support from Congress and the
administration despite persistent threats of defense budget cuts.
The company expects to generate 20% of total revenues from
international sales on the back of strong orders for its F-35
program in 2014.
Recently, the company received another sizable contract of $12.4
billion from the government of Australia. Per the contract, the
company will supply 58 F-35s with first delivery by 2018.
Currently, Lockheed Martin holds a Zacks Rank #3 (Hold). Other
well-ranked defense players include
The Boeing Co.
Alliant Techsystems Inc.
). All of these stocks hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
ALLIANT TECHSYS (ATK): Free Stock Analysis
BOEING CO (BA): Free Stock Analysis Report
EMBRAER AIR-ADR (ERJ): Free Stock Analysis
LOCKHEED MARTIN (LMT): Free Stock Analysis
To read this article on Zacks.com click here.