Lockheed Martin acquires Nova Scotia-based undersea warfare firm

Lockheed Martin (LMT) announced a $420M investment to expand its Arkansas missile production facility, adding 650 jobs over five years. The expansion aims to boost output for systems like Patriot Advanced Capability-3 and Terminal High.

Lockheed Martin plans to invest $420 million to expand its Camden, Arkansas facility, adding 650 jobs over five years. The expansion will boost production of PAC-3, THAAD, and Precision Strike Missile platforms. The company's Camden site has delivered over 700,000 missiles since 1979. Lockheed Martin has about 1,100 employees in Camden and recently began constructing a Munitions Acceleration Center to increase THAAD interceptor production.

Lockheed Martin is investing $420M to expand its Camden, Arkansas facility, creating 650 jobs over five years. The expansion will boost production of defense systems like PAC-3, THAAD, and PrSM, enhancing the state's role in defense manufacturing. Lockheed Martin has increased operations in Arkansas recently, including a new Munitions Acceleration Center.

The U.S. Space Force awarded Lockheed Martin a $95M contract modification for the GPS IIIF satellite program, increasing the total contract value to $4.73B. The modification resolves production impacts from prior budget deferrals. Lockheed Martin will use the funds to stabilize its manufacturing line in Colorado. The GPS IIIF program introduces anti-jam resiliency, hardened combat bus, and secondary payload upgrades. The first GPS IIIF satellite is scheduled for delivery in 2027.

The U.S. approved a $2.1B sale of 500 Patriot PAC-3 missiles to Ukraine, according to the State Department. Delivery is expected in the 2030s, with Ukraine paying via international contributions. Lockheed Martin is the principal contractor, and the deal may accelerate production. Ukraine seeks faster delivery to counter Russian missile attacks.

Wells Fargo kept its 'Equal-Weight' rating on Lockheed Martin but raised its price target to $700 from $600, suggesting a 9.9% upside from the Oct 30 close of $636.95. Recent analyst price targets for the company range from $600 to $835.