Pentagon’s prime contractor Lockheed Martin Corp. (LMT - Free Report) has recently secured a foreign military sales (FMS) contract from the U.S. Air Force for procuring, delivering and installing the Gap Filler Radar for the Kingdom of Jordan.
Details of the Deal
Valued at $41.7 million, the contract was awarded by the Air Force Life Cycle Management Center, Hanscom Air Force Base, MA. Per the terms, Lockheed will provide two long-range radars and three upgrades to Jordan’s existing long-range radars.
Contract terms also cover the integration of new and upgraded radar into the overall command, control and communications system. Work, scheduled to be over by Apr 30, 2018, will be carried out at the Hanscom Air Force Base.
Gap Filler Radar & Lockheed Martin
Gap Fillers are small distributed radars that detect low-flying aircraft, which attempt to utlize the gaps in large radar coverage. Lockheed Martin has been partnering with Romania for a long time on a variety of programs, including these Gap Filler radars, which are complementary to the long-range FPS-117 radar.
Geopolitical tensions and the rise of ISIS have led to various nations stepping up their defense capabilities. The direct beneficiary of a volatile geo-economy and consequently rising demand for weapons is undoubtedly aerospace and defense majors like Lockheed Martin. In fact, it is the largest defense contractor in the U.S., which will allow it to take maximum advantage of the worldwide political unrest.
The company has raised its 2016 sales outlook (per its second-quarter 2016 results), indicating management’s expectations for more of such contracts in the future.
Zacks Rank & Stocks to Consider
Lockheed Marin currently carries a Zacks Rank # 4 (Sell). A few better-ranked stocks in the aerospace and defense sector include AAR Corp. (AIR - Free Report) , Engility Holdings, Inc. and General Dynamics Corp. (GD - Free Report) .
AAR Corp. sports a Zacks Rank #1 (Strong Buy) and has witnessed a 12.5% surge in its stock price in the last one month. The company’s current year consensus estimate improved 5% over the same time frame.
Engility has witnessed a 4% rise in its stock price in the last one month. The company’s current year consensus estimate improved 13.6% in the last 60 days. It carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
General Dynamics holds a Zacks Rank #2 (Buy) and has witnessed a 0.8% rise in its stock price in the past one month. The company’s current year consensus estimate has improved 1% in the last 60 days.
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Pentagon’s prime contractor Lockheed Martin Corp. (LMT - Free Report) has recently secured a foreign military sales (FMS) contract from the U.S. Air Force for procuring, delivering and installing the Gap Filler Radar for the Kingdom of Jordan.
Details of the Deal
Valued at $41.7 million, the contract was awarded by the Air Force Life Cycle Management Center, Hanscom Air Force Base, MA. Per the terms, Lockheed will provide two long-range radars and three upgrades to Jordan’s existing long-range radars.
Contract terms also cover the integration of new and upgraded radar into the overall command, control and communications system. Work, scheduled to be over by Apr 30, 2018, will be carried out at the Hanscom Air Force Base.
Gap Filler Radar & Lockheed Martin
Gap Fillers are small distributed radars that detect low-flying aircraft, which attempt to utlize the gaps in large radar coverage. Lockheed Martin has been partnering with Romania for a long time on a variety of programs, including these Gap Filler radars, which are complementary to the long-range FPS-117 radar.
Geopolitical tensions and the rise of ISIS have led to various nations stepping up their defense capabilities. The direct beneficiary of a volatile geo-economy and consequently rising demand for weapons is undoubtedly aerospace and defense majors like Lockheed Martin. In fact, it is the largest defense contractor in the U.S., which will allow it to take maximum advantage of the worldwide political unrest.
The company has raised its 2016 sales outlook (per its second-quarter 2016 results), indicating management’s expectations for more of such contracts in the future.
Zacks Rank & Stocks to Consider
Lockheed Marin currently carries a Zacks Rank # 4 (Sell). A few better-ranked stocks in the aerospace and defense sector include AAR Corp. (AIR - Free Report) , Engility Holdings, Inc. and General Dynamics Corp. (GD - Free Report) .
AAR Corp. sports a Zacks Rank #1 (Strong Buy) and has witnessed a 12.5% surge in its stock price in the last one month. The company’s current year consensus estimate improved 5% over the same time frame.
Engility has witnessed a 4% rise in its stock price in the last one month. The company’s current year consensus estimate improved 13.6% in the last 60 days. It carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
General Dynamics holds a Zacks Rank #2 (Buy) and has witnessed a 0.8% rise in its stock price in the past one month. The company’s current year consensus estimate has improved 1% in the last 60 days.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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