Lockheed Martin (LMT) Stock: Pentagon Hands Defense Giant a $58B Missile Deal

TLDR

• Lockheed Martin received a seven-year, up to $58.62 billion Pentagon contract for PAC-3 Missile Segment Enhancement interceptors
• The company is making a multimillion-dollar investment to develop a Modular Payload Delivery System for hypersonic weapons
• Lockheed is tripling PAC-3 MSE production capacity by 2030 and expanding its Camden, Arkansas workforce from 1,200 to 1,850 employees
• The company plans to invest $8 to $9 billion in facility upgrades through 2030, including new munitions centers in Alabama and Arkansas
• Hedge fund ownership jumped from 59 to 83 funds last quarter, while short interest sits at just 1.62% of float

Lockheed Martin just had a very busy week. The defense giant landed one of the largest contract awards in its history and announced a new self-funded push into modular hypersonic weapons.

LMT stock edged down 0.13% on the news.

Lockheed Martin Corporation, LMT

The Pentagon handed Lockheed a seven-year contract worth up to $58.62 billion for PAC-3 Missile Segment Enhancement interceptors. The deal includes a $53.86 billion undefinitized contract action awarded on July 29, plus a $4.7 billion award from April.

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