We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lockheed Martin (LMT) Clinches $10B Super Hercules Deal
Read MoreHide Full Article
Pentagon’s leading contractor Lockheed Martin Corp. (LMT - Free Report) received a major $10 billion contract from the U.S Air Force to cover all future delivery orders of C-130J Super Hercules aircraft.
This contract covers all future delivery orders within its scope. The award will support the C-130J production program and work under this contract is slated for completion by Aug 18, 2026. This contract also involves foreign military sales.
About C-130J Super Hercules
The latest model in Lockheed Martin’s Hercules family – C-130J Super Hercules – is a four-engine turboprop military transport aircraft. The Hercules family has the longest continuous production run of a military aircraft in history. The C-130J crew includes two pilots and one loadmaster as no navigator or flight engineer is required on the aircraft.
The J-model is almost similar to the classic Hercules in terms of general appearance. However, it uses updated technology like the new Rolls-Royce AE 2100 D3 turboprops with Dowty R391 composite scimitar propellers, digital avionics and reduced crew requirements. These improvements boosted its performance over its C-130E/H predecessors, resulting in 40% greater range, 21% higher maximum speed and 41% shorter take-off distance.
Being the largest U.S. defense contractor, Lockheed Martin holds significant potential given the positive budget revision for fiscal 2016 and 2017. The fiscal 2016 budget reflects an annual increase of approximately $25 billion. This is also the first raise in the annual DoD budget since 2012. Importantly, the budget represents a double-digit annual percentage increase in investment accounts to fund new equipment procurement and research and development activities.
Approximately 16 countries operate C-130J Super Hercules. Lockheed Martin continues to witness robust demand in the international market for its programs. In particular, missile defense continues to be a big driver for a number of Asia-Pacific and Middle East countries. Apart from strong demand for its tactical aircraft, F-16 and F-35, as well as mobility, C-130J, the company’s THAAD, Aegis, Aegis Ashore, Patriot, and MEADS are seeing solid traction.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Engility Holdings, Inc. , General Dynamics Corp. (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), General Dynamics and Leidos Holdings carry 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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Lockheed Martin (LMT) Clinches $10B Super Hercules Deal
Pentagon’s leading contractor Lockheed Martin Corp. (LMT - Free Report) received a major $10 billion contract from the U.S Air Force to cover all future delivery orders of C-130J Super Hercules aircraft.
RAYTHEON CO Price
RAYTHEON CO Price | RAYTHEON CO Quote
This contract covers all future delivery orders within its scope. The award will support the C-130J production program and work under this contract is slated for completion by Aug 18, 2026. This contract also involves foreign military sales.
About C-130J Super Hercules
The latest model in Lockheed Martin’s Hercules family – C-130J Super Hercules – is a four-engine turboprop military transport aircraft. The Hercules family has the longest continuous production run of a military aircraft in history. The C-130J crew includes two pilots and one loadmaster as no navigator or flight engineer is required on the aircraft.
The J-model is almost similar to the classic Hercules in terms of general appearance. However, it uses updated technology like the new Rolls-Royce AE 2100 D3 turboprops with Dowty R391 composite scimitar propellers, digital avionics and reduced crew requirements. These improvements boosted its performance over its C-130E/H predecessors, resulting in 40% greater range, 21% higher maximum speed and 41% shorter take-off distance.
Being the largest U.S. defense contractor, Lockheed Martin holds significant potential given the positive budget revision for fiscal 2016 and 2017. The fiscal 2016 budget reflects an annual increase of approximately $25 billion. This is also the first raise in the annual DoD budget since 2012. Importantly, the budget represents a double-digit annual percentage increase in investment accounts to fund new equipment procurement and research and development activities.
Approximately 16 countries operate C-130J Super Hercules. Lockheed Martin continues to witness robust demand in the international market for its programs. In particular, missile defense continues to be a big driver for a number of Asia-Pacific and Middle East countries. Apart from strong demand for its tactical aircraft, F-16 and F-35, as well as mobility, C-130J, the company’s THAAD, Aegis, Aegis Ashore, Patriot, and MEADS are seeing solid traction.
Zacks Rank & Key Picks
Lockheed Martin currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Engility Holdings, Inc. , General Dynamics Corp. (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), General Dynamics and Leidos Holdings carry 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 >>