Lockheed (LMT) F-35 Program Won't Come Under Knife in FY14
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Price: $509.29 +0.53%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.5%
EPS Growth %: +8.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.5%
EPS Growth %: +8.5%
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It appears that Lockheed Martin's (NYSE: LMT) F-35 program is safe after all.
Reports out Wednesday have the Pentagon aiming to spend about $8.4 billion in fiscal 2014 to continue development of the project, with all 29 F-35 aircraft still planning to be purchased. The next fiscal year starts October 1, 2013.
The request came from President Obama's $526.6 billion defense proposal.
Currently, its planned that the Pentagon will get $99.3 billion for procurement and $67.5 billion for R&D, though those numbers could be changed via Congressional committees.
The F-35 program has been hit with a smattering of delays. Bloomberg reported today that Rolls-Royce is about 160 days behind on F-35 part deliveries.
Shares of Lockheed are up 0.6 percent.
Reports out Wednesday have the Pentagon aiming to spend about $8.4 billion in fiscal 2014 to continue development of the project, with all 29 F-35 aircraft still planning to be purchased. The next fiscal year starts October 1, 2013.
The request came from President Obama's $526.6 billion defense proposal.
Currently, its planned that the Pentagon will get $99.3 billion for procurement and $67.5 billion for R&D, though those numbers could be changed via Congressional committees.
The F-35 program has been hit with a smattering of delays. Bloomberg reported today that Rolls-Royce is about 160 days behind on F-35 part deliveries.
Shares of Lockheed are up 0.6 percent.
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