Sikorsky Aircraft, a Lockheed Martin (NYSE:LMT) company, recently secured a $656.77 million modification award for the production and delivery of UH-60M Black Hawk helicopters under a U.S. Army contract. The contractual work is expected to be completed by June 30, 2027.
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The Department of Defense, which is contracting the award, received the full award amount from the Australian government through its foreign military sales program. The original contract was signed in June 2022, when Sikorsky received a five-year, $4.4 billion contract from the Army to supply 255 H-60M Black Hawk helicopters to domestic and international military customers.
A consistent flow of deals with government agencies allows Lockheed Martin, a security and aerospace company, to stay committed to returning cash to shareholders through dividends. Recently, an LMT stock dividend of $3 per share was declared by the company’s board of directors, payable on March 24 to shareholders on record as of March 1.
Is LMT a Good Stock to Buy?
Wall Street is cautious about LMT stock, with a Hold consensus rating based on three Buys, 10 Holds, and three Sells. The average price target of $491 indicates an upside potential of 6.78% from the current price level.
