Thursday was a very good day indeed to be a Lockheed Martin (NYSE:LMT) shareholder. Upon release of the Pentagon's daily issuance of new contract award announcements, it became apparent that Lockheed was one of the day's bigger winners, landing three clean contract wins and a piece of a fourth.
The biggest and most significant win for Lockheed was its receipt of a $223.3 million firm-fixed-price, Foreign Military Sales (FMS) contract to supply Modernized-Target Acquisition Designations Sight Pilot Night Vision Sensors to the Government of South Korea. Known by the cumbersome acronym "M-TADS/PNVS," these are advanced electro-optical fire control systems that AH-64D/E Apache attack helicopter pilots use to fly their helicopters and target their weapons systems in daylight, at night, and in adverse weather conditions.
In April, Boeing (NYSE:BA) confirmed that it had won a contract to supply the Korean military with 36 such AH-64E Apache attack helicopters (a $1.6 billion deal for Boeing). Today's contract win for Lockheed appears to be tied to that Boeing win.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. 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.