Lockheed (LMT), U.S. Near Finalization of ~$4.7B F-35 Order
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Price: $521.82 +2.43%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.6%
Revenue Growth %: +6.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.6%
Revenue Growth %: +6.4%
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Lockheed Martin (NYSE: LMT) shares are ticking higher Thursday morning following reports it might be close to closing a large F-35 contract.
According to Bloomberg the Pentagon and Lockheed are in final talks over 29 F-35s following years of cutbacks. The Pentagon has postponed orders for 425 of the Joint Strike Fighter since 2010.
Finalization of the Defense Department's budget isn't final, but an official told Bloomberg that no "major" cuts are expected. The current budget calls for 29 aircraft in FY14, 44 in FY15, and 66 in FY16.
Costs for the F-35 should reach $395.7 billion for 2,443 plans, which is up 70 percent since 2001, or about $162 million per jet.
According to Bloomberg the Pentagon and Lockheed are in final talks over 29 F-35s following years of cutbacks. The Pentagon has postponed orders for 425 of the Joint Strike Fighter since 2010.
Finalization of the Defense Department's budget isn't final, but an official told Bloomberg that no "major" cuts are expected. The current budget calls for 29 aircraft in FY14, 44 in FY15, and 66 in FY16.
Costs for the F-35 should reach $395.7 billion for 2,443 plans, which is up 70 percent since 2001, or about $162 million per jet.
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