Lockheed Martin (LMT) Secures Sole-Source $58M Defense Contract for System Upgrades

Lockheed Martin Corporation (NYSE:LMT) ranks among the best low volatility stocks to buy according to analysts. The US Department of Defense awarded Lockheed Martin Corporation (NYSE:LMT) a $58.47 million firm-fixed-price contract for the maintenance of relay control elements on July 14. The contract covers the maintenance, modernization, and modification of relay control element systems.

Lockheed was the only company that was given consideration for the contract, as it was obtained through a sole-source acquisition method. At the time of the award, the DoD had already committed $5.8 million from fiscal 2025 operations and maintenance appropriations funds.

Moreover, Lockheed Martin Corporation (NYSE:LMT) had already won a separate $27.4 million contract from the DoD to supply F/A-18 aircraft components three days earlier. All work will be done at the company’s Orlando location, and the contract is part of an already awarded arrangement.

Lockheed Martin Corporation (NYSE:LMT), created by the 1995 merger of Lockheed Corporation and Martin Marietta, is a global leader in aerospace, defense, weaponry, information security, and technology.

While we acknowledge the potential of LMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.