US Army awards Lockheed Martin $1.2B PrSM contract

Lockheed Martin (LMT) secured a $1.2B contract for Precision Strike Missile (PrSM) production, replacing the older ATACMS. The PrSM has a 500km range and can target moving land and naval assets. Recent tests were successful, but its use in Iran has sparked controversy. The U.S. Army aims to increase production amid missile shortages.

Lockheed Martin (LMT) received a U.S. Army contract worth up to $1.2B for PrSM Increment 2 missiles, marking a shift from development to production. The contract covers initial procurement, future orders, and continued development. The missile's multimode seeker enables engagement of moving land and sea targets, expanding its capabilities. Lockheed Martin plans to quadruple production as demand grows, with additional flight tests scheduled for 2027.

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Lockheed Martin (LMT) won a $1.2B U.S. Army contract for the next version of its Precision Strike Missile, moving the program toward production. The contract covers initial purchases, additional orders, and continued development. The missile completed its second flight test in August, demonstrating its ability to engage moving maritime targets. Lockheed Martin plans to expand manufacturing capacity to support increased production.

Lockheed Martin (LMT) secured a $1.2B US Army contract for the Precision Strike Missile (PrSM) Increment 2, which can target moving maritime and land targets. The contract covers production and development, following successful flight tests in March and August. Lockheed plans to quadruple production and conduct more tests in 2027.

Lockheed Martin (NYSE:LMT) won a $1.2B U.S. Army contract for the next version of its Precision Strike Missile (PrSM). The deal covers initial orders, future production, and development. The missile, tested successfully twice this year, targets moving land and maritime objectives. Lockheed plans to expand production and scale output. Analysts have mixed ratings, with price targets ranging from $650.63 to $691. The stock trades at 19.7x earnings.