This article first appeared on GuruFocus. Lockheed Martin (NYSE:LMT) secured a U.S. Army contract valued at up to $1.2 billion for the next version of its Precision Strike Missile, moving the program toward production after recent flight testing. The indefinite-delivery, indefinite-quantity agreement covers initial purchases, additional orders and continued development of the PrSM Increment 2. Lockheed Martin said the award also supports work across its U.S. manufacturing network. Warning! GuruFocus has detected 3 Warning Signs with LMT. Is LMT fairly valued? Test your thesis with our free DCF calculator.LMT GF Value chart The missile completed its second flight test in August after an earlier test in March.
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