Lockheed Martin Corporation (NYSE:LMT) received $176.1 million in contracts from the U.S. Air Force for Sniper Advanced Targeting Pod-Sensor Enhancement (ATP-SE) production and upgrade kits that will convert Sniper ATPs to the ATP-SE configuration.
Sniper ATP-SE has improved sensors, a two-way datalink and algorithms that increase air-to-ground, air-to-air and maritime targeting capability. Upgrade kits consist of line replaceable units that will be installed in fielded ATPs. Deliveries of pods and upgrade kits will begin in fourth quarter 2016.
“With the purchase of new Sniper ATP-SEs and the continued conversion of Sniper ATPs to ATP-SEs, the U.S. Air Force will gain greater targeting capability and performance across its multi-platform fleet,” said Paul Lemmo, vice president of Fire Control/SOF CLSS at Lockheed Martin Missiles and Fire Control. “Lockheed Martin’s ongoing investments and Sniper’s modular, open architecture have ensured it can address growing threats and remain the pod of choice for air forces worldwide.”
Lockheed Martin was the majority winner of the 2010 U.S. Air Force/Air National Guard ATP-SE competition. As a unique configuration of Sniper ATP, Sniper ATP-SE provides strike fighter and bomber aircraft with advanced modes for non-traditional intelligence, surveillance and reconnaissance; improved combat identification; and two-way data link communication. (Original Source)
Shares of Lockheed Martin opened today at $212.22 and are currently trading up at $214.48. LMT has a 1-year high of $216.27 and a 1-year low of $170.71. The stock’s 50-day moving average is $207.21 and its 200-day moving average is $197.84.
On the ratings front, Lockheed Martin has been the subject of a number of recent research reports. In a report released yesterday, Deutsche Bank analyst Myles Walton maintained a Hold rating on LMT. Separately, on October 12, J.P. Morgan’s Seth Seifman downgraded the stock to Hold and has a price target of $230.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Myles Walton and Seth Seifman have a total average return of 5.1% and -0.4% respectively. Walton has a success rate of 54.3% and is ranked #747 out of 3795 analysts, while Seifman has a success rate of 0.0% and is ranked #2580.
Overall, 4 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $231.33 which is 9.0% above where the stock opened today.
Lockheed Martin Corp is a security and aerospace company. The Company is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.