Lockheed Martin (LMT) Secures Sole-Source $58M Defense Contract for System Upgrades

Lockheed Martin Corporation (NYSE:LMT) ranks among the best low volatility stocks to buy according to analysts. The US Department of Defense awarded Lockheed Martin Corporation (NYSE:LMT) a $58.47 million firm-fixed-price contract for the maintenance of relay control elements on July 14. The contract covers the maintenance, modernization, and modification of relay control element systems.

Lockheed Martin (LMT) Secures Sole-Source $58M Defense Contract for System Upgrades

Pixabay/Public Domain

Lockheed was the only company that was given consideration for the contract, as it was obtained through a sole-source acquisition method. At the time of the award, the DoD had already committed $5.8 million from fiscal 2025 operations and maintenance appropriations funds.

Moreover, Lockheed Martin Corporation (NYSE:LMT) had already won a separate $27.4 million contract from the DoD to supply F/A-18 aircraft components three days earlier. All work will be done at the company’s Orlando location, and the contract is part of an already awarded arrangement.

Lockheed Martin Corporation (NYSE:LMT), created by the 1995 merger of Lockheed Corporation and Martin Marietta, is a global leader in aerospace, defense, weaponry, information security, and technology.

While we acknowledge the potential of LMT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LMT and that has 100x upside potential, check out our report about this cheapest AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.