Lockheed Martin Corporation (NYSE:LMThas been appointed by NATS to support the UK air traffic management company’s technology transformation programme over the coming years as their systems integration partner.

The programme will enhance NATS’ capabilities to provide efficient and resilient services to their airline and airport customers. It will support the introduction of a more efficient air traffic system that will meet future demand, increase efficiency and improve environmental performance.

As part of a wider NATS programme of investment, the initial contract will see staff work side-by-side with Lockheed Martin to define, integrate and implement a range of technology services that collectively will evolve and update operational services and enable key SESAR concepts, such as free route airspace, in the UK. Lockheed Martin will work alongside a number of other NATS partners, under a collaborative framework that follows BS11000 principles, integrating a whole series of innovative and ground breaking technologies.

James Williamson, Lockheed Martin, Director Transport said, “The programme to deploy SESAR based technologies is one of the most critical components of NATS strategy and for Lockheed Martin to be selected further cements the ongoing relationship between both companies”.

Tim Bullock, NATS Director Supply Chain said, “This is one of the most ambitious programmes NATS has ever undertaken and will transform how we manage air traffic in the UK, enabled by building a robust multi party collaborative supply chain. As such we need trusted partners like Lockheed Martin, with a proven track record of performance and capability, coupled with exemplary collaborative behaviours.” (Original Source)

Shares of Lockheed Martin are trading slightly down at $207.74. LMT has a 1-year high of $227.91 and a 1-year low of $181.91. The stock’s 50-day moving average is $215.40 and its 200-day moving average is $210.23.

On the ratings front, Lockheed Martin has been the subject of a number of recent research reports. In a report released yesterday, RBC analyst Robert Stallard reiterated a Buy rating on LMT, with a price target of $244, which implies an upside of 17.0% from current levels. Separately, on December 30, Drexel Hamilton’s Peter Skibitski maintained a Buy rating on the stock and has a price target of $229.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Stallard and Peter Skibitski have a total average return of 4.4% and 10.8% respectively. Stallard has a success rate of 55.3% and is ranked #505 out of 3596 analysts, while Skibitski has a success rate of 56.3% and is ranked #646.

The street is mostly Bullish on LMT stock. Out of 4 analysts who cover the stock, 2 suggest a Buy rating , one suggests a Sell and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $228.25, which implies an upside of 9.5% from current levels.

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.