Lockheed Martin locks down $1.38B pact for F-35 fighters LMT

Lockheed Martin (LMT -0.6%) has secured a $1.38B contract with the Pentagon for F-35 aircraft.

The deal is an advance acquisition contract covering 130 F35 Lightning II craft, for the Air Force (about 23%), Navy (about 3%), Marine Corps (9%), non-Department of Defense participants (38%), and foreign military customers (27%) -- as well as another 110 craft for the non-DoD participants and foreign customers.