Lockheed Martin Corp. (LMT) announced on Friday that the U.S. government has awarded a $4.7 billion contract to ramp up production of the PAC-3 Missile Segment Enhancement interceptors. This deal is set to increase manufacturing capacity and lead to record deliveries of this proven missile system this year.
The new agreement builds on an earlier arrangement with the U.S. Department of Defense to increase munitions output as part of a broader acquisition strategy.
The PAC-3 MSE interceptors are critical in defending against various aerial threats and have demonstrated their effectiveness in real-world operations. Lockheed Martin stated that their ongoing investments in facilities, workforce, and supply chains enable them to quickly scale up production, which will also create jobs and boost global defense readiness.
LMT is currently trading at $620.46, down $3.41 or 0.55 percent on the New York Stock Exchange.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.