Lockheed Martin Wins 3 Defense Contracts Thursday (and Part of a Fourth)

Longbow LLC venture with Northrop Grumman will help to outfit Saudi Arabia's fleet of Apache attack helicopters.

Mar 13, 2014 at 9:38PM

The Department of Defense awarded 13 separate defense contracts Thursday, worth $453.2 million in total. Defense contractor Lockheed Martin (NYSE:LMT) was the big winner of the day, landing three of the contracts on offer -- and a piece of a fourth -- including:

  • An $8 million contract modification to provide the U.S. Missile Defense Agency with test support at the Aegis Ashore Missile Defense Test Complex at the Pacific Missile Range Facility in Kekaha, Hawaii. This contract modification lifts the value of Lockheed's contract to just shy of $310 million. Completion is now scheduled to occur on Dec. 31, 2015.
  • A $22.2 million contract modification exercising options on a preexisting contract to have Lockheed conduct "class service efforts and special studies, analyses and reviews" related to the U.S. Navy's Littoral Combat Ship (LCS) program. Lockheed Martin will provide engineering and design services as well as conduct affordability efforts with the aim of reducing the acquisition and lifecycle costs for Littoral Combat Ships through March 2015.
  • A $24 million indefinite-delivery/indefinite-quantity contract to train the Iraqi Air Force and handle technology transfers in accordance with security assistance agreements and/or security cooperation programs relevant to maintaining and operating C-130J transport aircraft that have been acquired by the Iraqi Air Force. This work will continue through Jan. 31, 2017.

Additionally, the Longbow LLC joint venture between Lockheed Martin and Northrop Grumman (NYSE:NOC) was awarded a $25.5 million modification on a foreign military sales contract to supply the Royal Saudi Land Forces Aviation Command with Apache attack helicopter initial spare parts, production line spare parts, and "peculiar ground support equipment," and also to perform integrated logistics support and management services. This contract will run through June 30, 2016.

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

Click here to learn about this incredible technology before Buffett stops being scared and starts buying!

David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

©1995-2014 The Motley Fool. All rights reserved. | Privacy/Legal Information