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June 3, 2014
10:17 EDTLMTLockheed receives contract for MK 41 Vertical Launching System
The U.S. Navy recently awarded Lockheed Martin a contract to provide engineering design services for the MK 41 Vertical Launching System that helps protect the fleet from numerous naval warfare threats. This $10M cost-plus-fixed-fee contract includes options, which if exercised would bring the total contract value to $182M. This contract combines purchases for the U.S. Navy and eight allied navies under the Foreign Military Sales program. Included in the work is missile integration, software development, integration of VLS into new ships, technical refresh, systems engineering and life cycle support for MK 41 VLS. These services will also be done on the U.S. Navy's Ticonderoga-class cruisers and Arleigh Burke-class guided missile destroyers. The work will be performed at Lockheed Martin's locations in Baltimore, Maryland, and Ventura, California.
News For LMT From The Last 14 Days
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October 2, 2015
18:41 EDTLMTLockheed Martin weighs merger of services units with competitor, Reuters says
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October 1, 2015
17:25 EDTLMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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September 30, 2015
19:57 EDTLMTDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
17:49 EDTLMTLockheed Martin awarded $392.02M government contract
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06:51 EDTLMTUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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September 24, 2015
13:50 EDTLMTLockheed Martin raises share repurchase authorization by $3B
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12:51 EDTLMTLockheed Martin raises quarterly dividend 10% to $1.65 per share
The dividend is payable on December 24 to holders of record as of the close of business on December 1.
08:04 EDTLMTLockheed Martin reports expiration of HSR waiting period for Sikorsky deal
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07:43 EDTLMTMarket overly negative on Aerojet Rocketdyne, says Oppenheimer
After Boeing (BA) rejected an unsolicited offer from Aerojet Rocketdyne (AJRD) for United Launch Alliance, a 50/50 joint venture of Boeing and Lockheed Martin (LMT), Oppenheimer thinks the market's reaction to the news ignores Aerojet's positive catalysts. The firm says that the news will not impact Aerojet's operations until 2019 and will probably not have an impact of more than about $115M. The firm keeps a $26 price target and Outperform rating on Aerojet.
September 23, 2015
17:52 EDTLMTLockheed Martin awarded $120.4M government contract modification
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