Aerospace company, Lockheed Martin Corporation(LMT), maintained its spot as primary systems engineer for the Navy’s Aegis weapons system on Monday.
The company was given a cost plus incentive fee contract worth $100 million for its Mission Systems and Training unit which is located in New Jersey. Out of the $100 million, $2.9 million will be paid to the company today. The company beat out Raytheon (RTN) and Boeing (BA) for the contract.
The Pentagon said that LMT will update its current system and use it on future CG 47-class cruisers and DDG-51 class destroyers.
A spokesperson from Boeing said that the decision to keep Lockheed as the primary contractor, “is a disappointment, we remain committed to supporting the U.S. Navy’s ballistic defense mission.”
If either Raytheon or Boeing would have obtained the contract, a 40 year lock on the program by Lockheed would have been broken.
Lockheed Martin and Raytheon shares were mostly flat during Tuesday morning trading. LMT has been mostly flat in the past year. Raytheon shares have increased 5.5% in the past year. Boeing shares were up 51 cents, or 0.66% during Tuesday morning trading, and have increased 4.6% in the past year.
The Bottom Line
Shares of Lockheed Martin Corporation(LMT) have a 5.28% yield, based on Monday’s closing price of $87.10. Boeing Co.(BA) shares have a 2.52% yield, based on Monday’s closing price of $77.09. Raytheon Co.(RTN) shares have a yield of 3.69%, based on Monday’s closing price of $54.24.
Lockheed Martin Corporation(LMT) and Raytheon Co.(RTN) are “Recommended” dividend stocks at this time, holding Dividend.com DARS™ Ratings of 3.6 and 3.5 out of 5 stars respectively. Boeing Co.(BA) is not currently recommended, holding a Dividend.com DARS&trade Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here