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Lockheed's (LMT) Sikorsky Wins $135M Deal for 24 Black Hawks
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Defense giant Lockheed Martin Corp’s (LMT - Free Report) business unit, Sikorsky Aircraft recently won a modification contract from the U.S. Army for the sale of 24 UH-60M Black Hawk aircraft to the Taiwan government. The contract is valued at $135.4 million and was awarded by the Army Contracting Command, Redstone Arsenal, AL.
Work is scheduled to be complete by Oct 8, 2018 and will be executed inStratford, CT. The contract will use fiscal 2016 other procurement funds.
Originally developed and manufactured by Sikorsky, the UH-60M is a modified version of the renowned Black Hawk family of helicopters that supports multi-mission tactical operations. It is a twin-engine copter with four blades and an improved durability gearbox.
This medium-lift utility chopper offers fail-safe service, during both day and night, in the harshest weather conditions, anywhere in the world. Among other models of the Black Hawk, UH-60M is the most efficient, thanks to its integrated digital cockpit, moving map display, enhanced GPS/INS system and fully coupled flight controls and superior vertical lift.
Our View
Last November, Lockheed Martin bought Sikorsky Aircraft – one of the primary industry leading helicopter manufacturers in the U.S. – from United Technologies Corp. for $9 billion in cash. The deal positioned Lockheed as the world’s largest defense contractor, particularly with the addition of Sikorsky’s world-known product, Black Hawk along with a handful of other combat as well as commercial choppers, to its helicopter product line.
We note that in the second quarter of 2016, Lockheed Martin witnessed year-over-year sales growth of 11%, majority of which was due to the Sikorsky buyout. Going ahead, management expects to witness even better cash flows from Sikorsky in 2018, indicating further expansion of the unit in the days to come.
Stocks to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense sector include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Ducommun Inc. (DCO - Free Report) . While Engility and Ducommun sport a Zacks Rank #1 (Strong Buy), General Dynamics carries a Zacks Rank #2 (Buy).
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Lockheed's (LMT) Sikorsky Wins $135M Deal for 24 Black Hawks
Defense giant Lockheed Martin Corp’s (LMT - Free Report) business unit, Sikorsky Aircraft recently won a modification contract from the U.S. Army for the sale of 24 UH-60M Black Hawk aircraft to the Taiwan government. The contract is valued at $135.4 million and was awarded by the Army Contracting Command, Redstone Arsenal, AL.
Work is scheduled to be complete by Oct 8, 2018 and will be executed inStratford, CT. The contract will use fiscal 2016 other procurement funds.
LOCKHEED MARTIN Price
LOCKHEED MARTIN Price | LOCKHEED MARTIN Quote
The UH-60M Black Hawk
Originally developed and manufactured by Sikorsky, the UH-60M is a modified version of the renowned Black Hawk family of helicopters that supports multi-mission tactical operations. It is a twin-engine copter with four blades and an improved durability gearbox.
This medium-lift utility chopper offers fail-safe service, during both day and night, in the harshest weather conditions, anywhere in the world. Among other models of the Black Hawk, UH-60M is the most efficient, thanks to its integrated digital cockpit, moving map display, enhanced GPS/INS system and fully coupled flight controls and superior vertical lift.
Our View
Last November, Lockheed Martin bought Sikorsky Aircraft – one of the primary industry leading helicopter manufacturers in the U.S. – from United Technologies Corp. for $9 billion in cash. The deal positioned Lockheed as the world’s largest defense contractor, particularly with the addition of Sikorsky’s world-known product, Black Hawk along with a handful of other combat as well as commercial choppers, to its helicopter product line.
We note that in the second quarter of 2016, Lockheed Martin witnessed year-over-year sales growth of 11%, majority of which was due to the Sikorsky buyout. Going ahead, management expects to witness even better cash flows from Sikorsky in 2018, indicating further expansion of the unit in the days to come.
Stocks to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense sector include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Ducommun Inc. (DCO - Free Report) . While Engility and Ducommun sport a Zacks Rank #1 (Strong Buy), General Dynamics carries a Zacks Rank #2 (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>>