Lockheed Martin Lands $1.2 Billion Army Missile Deal
Lockheed Martin Corp. (NYSE: LMT ) said Monday it secured a U.S. Army contract worth up to $1.2 billion to produce the next version of its Precision Strike Missile, or PrSM. The indefinite delivery, indefinite quantity contract covers initial orders for PrSM Increment 2 missiles. It also includes future production and continued development. Missile Targets Moving Ships The award follows two flight tests of PrSM Increment 2 this year. Lockheed Martin completed the first test in March and a second in August. During the latest test, the missile launched from a HIMARS system and engaged a moving maritime target. The company said technology from its Strigo product family helped inform parts of the missile's guidance system. Additional flight tests are planned for 2027. Lockheed Expands Production PrSM Increment 2 adds a multimode seeker designed to strike moving land and maritime targets. That capability expands the Army's long-range precision strike options. Lockheed Martin said it will now begin initial production while continuing system testing and development. The award also builds on broader government investment in the PrSM program. The defense contractor is expanding capacity wit
Lockheed Martin Corp. S. 2 billion to produce the next version of its Precision Strike Missile, or PrSM. The indefinite delivery, indefinite quantity contract covers initial orders for PrSM Increment 2 missiles.
It also includes future production and continued development. Missile Targets Moving Ships The award follows two flight tests of PrSM Increment 2 this year. Lockheed Martin completed the first test in March and a second in August. During the latest test, the missile launched from a HIMARS system and engaged a moving maritime target.
The company said technology from its Strigo product family helped inform parts of the missile's guidance system. Additional flight tests are planned for 2027. Lockheed Expands Production PrSM Increment 2 adds a multimode seeker designed to strike moving land and maritime targets. That capability expands the Army's long-range precision strike options.
Lockheed Martin said it will now begin initial production while continuing system testing and development. The award also builds on broader government investment in the PrSM program. The defense contractor is expanding capacity with a goal of quadrupling missile production. Lockheed Martin said it expects to scale output as the Army moves toward larger Increment 2 purchases.
63. UBS upgraded Lockheed Martin to Buy on Sept. 8 and raised its price target to $674. Citigroup maintained a Buy rating and lifted its target to $691 on Aug.
13. Morgan Stanley maintained an Equal-Weight rating and raised its target to $690 on July 24. 7 times earnings. 75, both in neutral territory.
54. 24. Overall, the rankings show a quality-focused profile, while weaker growth and mixed technical momentum remain potential headwinds. Top ETF Exposure Lockheed Martin is a major holding in several aerospace and defense ETFs.
80% weighting in the stock. S. 66% weighting. Because Lockheed Martin has significant weight in these funds, ETF inflows and outflows can contribute to trading activity in the stock.
24 in Tuesday's premarket session, according to Pro data. 3 Billion Fighter Jet Sale: Lockheed Martin, RTX Set to Gain?