Lockheed Martin (LMT) Secures $1.9 Billion Contract to Continue C-130J Maintenance and Aircrew Training System Program

Lockheed Martin Corporation (NYSE:LMT) is among the 10 Best Military Drone Stocks to Buy Right Now. On April 14, the company said it had secured a $1.9 billion contract from the Pentagon to continue the C-130J Maintenance and Aircrew Training System program.

Lockheed Martin Corporation (LMT) Secures $1.9 Billion Contract To Continue C-130J Maintenance and Aircrew Training System Program

Michael Fitzsimmons/Shutterstock.com

According to the defense contractor’s press release, this is a sole-source, IDIQ agreement that will run for a period of ten years. The deal will help ensure the uninterrupted provision of training devices and support for aircrews and maintenance staff of the military transport aircraft.

In other news, Lockheed Martin Corporation (NYSE:LMT) continues to remain on analysts’ radar and sports a Hold rating with an average share price upside potential of 12% as of the close of business on April 16.

On April 7, Jefferies lifted its price target on the stock to $640 from $630 and maintained a Hold rating. In a research note to investors, the analyst said that she expects first-quarter revenue to be flat at $18 billion and miss the consensus of $18.4 billion, with EPS also likely to fall below estimates by 2%. The firm further added that the company is likely to keep its current guidance for 2026 intact.

Lockheed Martin Corporation (NYSE:LMT) is one of the largest defense contractors in the world. It is famed for manufacturing notable fighter jets, including the F-35. The company also delivers advanced autonomous solutions to the US military to meet the needs of its most demanding missions.

While we acknowledge the risk and potential of LMT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LMT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 7 Best Mid-Cap Defense Stocks to Invest In and 12 Best Aerospace Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.