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Lockheed's (LMT) Sikorsky Wins Black Hawk Defense Deal
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Lockheed Martin Corp.’s (LMT - Free Report) business unit, Sikorsky Aircraft Corp., has won a modification contract from the U.S. Army for exercising an option for 14 UH-60M helicopters. The contract is valued at $158.4 million and the contracting activity is Army Contracting Command, Redstone Arsenal, AL.
Work, to be executed in Stratford, CT, is scheduled to be complete by Jun 30, 2017. The contract will use fiscal 2016, 2015 and 2010 other procurement funds.
Manufactured by Sikorsky, UH-60M Black Hawk is a twin-engine helicopter with four blades and medium-lift utility. Even amid the harshest of conditions, this aircraft is capable of providing constant, fail-safe service. Moreover, the aircraft is integrated with the U.S. Army's Future Combat Systems and automated aircraft health monitoring system and has the ability to provide superior vertical lift.
Lockheed Martin purchased Black Hawk helicopter maker, Sikorsky Aircraft, from United Technologies Corp. on Nov 2015. The deal boosted Lockheed’s position as the world’s largest defense contractor, strengthening its military helicopter business. The purchase of Sikorsky added another well-known product – Black Hawk – to Lockheed Martin’s helicopter portfolio.
We remind investors that Lockheed Martin reported better-than-expected second-quarter 2016 earnings on the back of solid operational performance. A tax benefit related to the early adoption of the employee share-based payments accounting standard also added to the positives. It even boosted its full-year 2016 outlook for EPS, revenues, operating profit and cash flow. The solid outlook, impressive revenue growth and potential share buybacks are major positives.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. and Ducommun Inc. (DCO - Free Report) , both sporting a Zacks Rank #1 (Strong Buy).
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Lockheed's (LMT) Sikorsky Wins Black Hawk Defense Deal
Lockheed Martin Corp.’s (LMT - Free Report) business unit, Sikorsky Aircraft Corp., has won a modification contract from the U.S. Army for exercising an option for 14 UH-60M helicopters. The contract is valued at $158.4 million and the contracting activity is Army Contracting Command, Redstone Arsenal, AL.
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Work, to be executed in Stratford, CT, is scheduled to be complete by Jun 30, 2017. The contract will use fiscal 2016, 2015 and 2010 other procurement funds.
Manufactured by Sikorsky, UH-60M Black Hawk is a twin-engine helicopter with four blades and medium-lift utility. Even amid the harshest of conditions, this aircraft is capable of providing constant, fail-safe service. Moreover, the aircraft is integrated with the U.S. Army's Future Combat Systems and automated aircraft health monitoring system and has the ability to provide superior vertical lift.
Lockheed Martin purchased Black Hawk helicopter maker, Sikorsky Aircraft, from United Technologies Corp. on Nov 2015. The deal boosted Lockheed’s position as the world’s largest defense contractor, strengthening its military helicopter business. The purchase of Sikorsky added another well-known product – Black Hawk – to Lockheed Martin’s helicopter portfolio.
We remind investors that Lockheed Martin reported better-than-expected second-quarter 2016 earnings on the back of solid operational performance. A tax benefit related to the early adoption of the employee share-based payments accounting standard also added to the positives. It even boosted its full-year 2016 outlook for EPS, revenues, operating profit and cash flow. The solid outlook, impressive revenue growth and potential share buybacks are major positives.
Lockheed Martin currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. and Ducommun Inc. (DCO - Free Report) , both sporting a Zacks Rank #1 (Strong Buy).
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>>