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Lockheed Martin Wins $356M Deal for Modernizing CCTT Module
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Lockheed Martin Corp. (LMT - Free Report) recently secured a $356.3-million hybrid contract for modernizing the Close Combat Tactical Trainer (CCTT) Manned Module. The contract was awarded by the U.S. Army Contracting Command, Orlando, FL.
Work related to the deal is expected to be completed by Aug 20, 2028, and the locations for performing the tasks will be determined with each order.
What is CCTT?
The Close Combat Tactical Trainer (CCTT) refers to computer-driven simulation module that integrates all facets of combat vehicle operations to immerse Warfighters in battlefield situations. With the help of the tactical trainer system, military tactics, doctrine, weapons systems, mission planning and rehearsals are validated. This, in turn, helps in trainings military personnels.
The CCTT also presents logistics, artillery, mortar and aviation units to a synthetic battlefield with realistic terrain. Soldiers move, shoot and communicate on this battlefield by operating combat vehicles and employing simulated weapon systems. It provides an affordable complement to live training, delivering collective training before the unit moves to the live environment. The CCTT is the U.S. Army’s first and largest distributed interactive simulation system.
What’s Favoring Lockheed Martin?
Being the largest contractor of Pentagon, Lockheed Martin enjoys a dominant position in the U.S. aerospace and defense space. In terms of simulation, the company offers world-class simulation services that make U.S. soldiers all the more invincible. With President Trump’s approval of the fiscal 2019 defense policy bill, aiming to expand the size and strength of U.S. military substantially, more of such simulation service providing contracts can be expected from the Pentagon in the near term.
Notably, order growth has always been a primary driver for Lockheed Martin and more such orders, anticipated in line, should boost its top line.
Furthermore, the fiscal 2019 defense budget provisions for a spending plan of $13.5 billion for Lockheed Martin's various programs. No doubt, such a budgetary provision will bolster this defense major’s profit margin, going ahead.
Price Movement
Lockheed Martin’s stock improved about only 6.4% in the last year compared with the industry’s growth of 22.9%. The underperformance may have been caused by the intense competition that the company faces in the aerospace-defense space for its broad portfolio of products and services, both domestically as well as internationally.
Zacks Rank & Stocks to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold).
A few top-ranked stocks in the same sector are Aerojet Rocketdyne Holdings , Engility Holdings and Huntington Ingalls Industries (HII - Free Report) .
Aerojet Rocketdyne came up with an average positive earnings surprise of 9.27% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 30.9% to $1.27 in the last 90 days.
Engility Holdings delivered an average positive earnings surprise of 19% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 18.9% to $2.02 in the last 90 days.
Huntington Ingalls Industries came up with an average positive earnings surprise of 9.48% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 3.8% to $17.25 in the last 90 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Lockheed Martin Wins $356M Deal for Modernizing CCTT Module
Lockheed Martin Corp. (LMT - Free Report) recently secured a $356.3-million hybrid contract for modernizing the Close Combat Tactical Trainer (CCTT) Manned Module. The contract was awarded by the U.S. Army Contracting Command, Orlando, FL.
Work related to the deal is expected to be completed by Aug 20, 2028, and the locations for performing the tasks will be determined with each order.
What is CCTT?
The Close Combat Tactical Trainer (CCTT) refers to computer-driven simulation module that integrates all facets of combat vehicle operations to immerse Warfighters in battlefield situations. With the help of the tactical trainer system, military tactics, doctrine, weapons systems, mission planning and rehearsals are validated. This, in turn, helps in trainings military personnels.
The CCTT also presents logistics, artillery, mortar and aviation units to a synthetic battlefield with realistic terrain. Soldiers move, shoot and communicate on this battlefield by operating combat vehicles and employing simulated weapon systems. It provides an affordable complement to live training, delivering collective training before the unit moves to the live environment. The CCTT is the U.S. Army’s first and largest distributed interactive simulation system.
What’s Favoring Lockheed Martin?
Being the largest contractor of Pentagon, Lockheed Martin enjoys a dominant position in the U.S. aerospace and defense space. In terms of simulation, the company offers world-class simulation services that make U.S. soldiers all the more invincible. With President Trump’s approval of the fiscal 2019 defense policy bill, aiming to expand the size and strength of U.S. military substantially, more of such simulation service providing contracts can be expected from the Pentagon in the near term.
Notably, order growth has always been a primary driver for Lockheed Martin and more such orders, anticipated in line, should boost its top line.
Furthermore, the fiscal 2019 defense budget provisions for a spending plan of $13.5 billion for Lockheed Martin's various programs. No doubt, such a budgetary provision will bolster this defense major’s profit margin, going ahead.
Price Movement
Lockheed Martin’s stock improved about only 6.4% in the last year compared with the industry’s growth of 22.9%. The underperformance may have been caused by the intense competition that the company faces in the
aerospace-defense space for its broad portfolio of products and services, both domestically as well as internationally.
Zacks Rank & Stocks to Consider
Lockheed Martin currently carries a Zacks Rank #3 (Hold).
A few top-ranked stocks in the same sector are Aerojet Rocketdyne Holdings , Engility Holdings and Huntington Ingalls Industries (HII - Free Report) .
While Aerojet Rocketdyne Holdings sports a Zacks Rank #1 (Strong Buy), Engility Holdings and Huntington Ingalls carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Aerojet Rocketdyne came up with an average positive earnings surprise of 9.27% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 30.9% to $1.27 in the last 90 days.
Engility Holdings delivered an average positive earnings surprise of 19% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 18.9% to $2.02 in the last 90 days.
Huntington Ingalls Industries came up with an average positive earnings surprise of 9.48% in the last four quarters. The Zacks Consensus Estimate for 2018 earnings has risen by 3.8% to $17.25 in the last 90 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>