Lockheed Receives $562 Million Missile Contract
June 25 2019 - 10:15AM
Dow Jones News
By Micah Maidenberg
Lockheed Martin Corp. (LMT) has received a new contract to
produce missiles for the U.S. Army, as well for certain foreign
militaries, the defense contractor said.
The Bethesda, Md.-based company said Tuesday it will make Army
Tactical Missile System missiles under a $561.8 million contract.
In a statement, the company didn't specify which overseas
militaries will receive the missiles.
The company will produce the missiles at a facility in Camden,
Ark., where it is expanding manufacturing operations.
Shares of Lockheed have risen more than 37% so far this year
through Monday, as investors turn to the defense sector to find
stocks perceived as safer bets. Investors have also been buying
shares of military companies on the expectation that defense
spending may rise.
A Senate committee last month approved allocating $750 billion
for defense spending as part of a budget bill.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
June 25, 2019 10:00 ET (14:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Lockheed Martin (NYSE:LMT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Lockheed Martin (NYSE:LMT)
Historical Stock Chart
From Sep 2023 to Sep 2024