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LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Lockheed Martin Corp. (NYSE: LMT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=LMT. The Company announced on August 11, 2017, that its Missiles and Fire Control Lexington, Kentucky, has been awarded an $8.00 billion indefinite-delivery/indefinite-quantity contract for the special operations forces global logistics support services (SOF GLSS) requirement. The Company won the proposal out of a competitive acquisition, with five proposals received. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The US Department of Defense stated that the SOF GLSS contract will provide non-personal, global logistics support services and expertise to maintain program support and Enterprise management functions for Program Executive Office of the Special Operations Forces Support Activity.
As per the press release the work will be performed at Bluegrass Station, Lexington, Kentucky; Bluegrass Army Depot, Richmond, Kentucky; Fort Walton Beach, Florida; and Crestview, Florida, as well as multiple customer locations both inside and outside the continental US fiscal 2017 operations and maintenance funds will be obligated to satisfy the contract minimum amount. The work will get additional funding based on task order basis. The contract won by Lockheed Martin is for the duration of 10 years and will extend the Company's current support agreement which was scheduled to expire in September 2018.
Another Contract
On the same day, the US Department of Defense announced that its Lockheed Martin's Aeronautics unit located in Fort Worth, Texas was awarded $24.11 million for modification P0083 to a previously awarded fixed-price-incentive-firm contract for recurring logistics services of F-35 Lightning II Joint Strike Fighter in support of the Air Force, Navy, Marine Corps, non-Department of Defense (DoD) participants, and foreign military sales (FMS) customers.
As per the press release, the support work would include material for depot stand-up and activation, canopy systems, and avionics subsystems. Work will be performed in Fort Worth, Texas, and is expected to be completed in August 2019.
As per the press release, FY15 aircraft procurement, non-DoD participant, and FMS funds in the amount of $24.11 million will be obligated at time of award out of which $19.74 million will expire at the end of the current fiscal year. This contract combines purchases for the Air Force amounting to 45% of the total value, or approximately $10.85 million; Marine Corps will get 24% of the total value, or $5.87 million; non-DoD participants will be accorded 14%, or $3.27 million; Navy will receive 13%, or $3.01 million; and FMS customers will get $1.10 million, or 4% of the overall amount, under the Foreign Military Sales program.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.
Last Close Stock Review
At the closing bell, on Monday, August 14, 2017, Lockheed Martin's stock rose 1.26%, ending the trading session at $307.58. A total volume of 1.20 million shares have exchanged hands, which was higher than the 3-month average volume of 969.18 thousand shares. The Company's stock price rallied 12.94% in the last three months, 17.24% in the past six months, and 16.44% in the previous twelve months. Moreover, the stock surged 23.06% since the start of the year. The stock is trading at a PE ratio of 24.22 and has a dividend yield of 2.37%. The stock currently has a market cap of $88.74 billion.
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