NEW YORK (TheStreet) -- Lockheed Martin (LMT) - Get Report climbed by 1% to $222.96 in Wednesday's trading session, after Straightline Aviation signed a letter of intent to purchase as many as 12 airships worth $480 million.
The first delivery is scheduled for 2018, and the deliveries will continue for roughly two years.
Lockheed has been marketing the airships as a less expensive, more environmentally friendly method to deliver supplies, CNBC.com reports. The airships will be capable of carrying 20 tons of cargo to areas without roads.
"We are delighted to be first in line with this magnificent aircraft that is going to dramatically change the way cargo is moved around the world," Mike Kendrick, SLA co-founder and chief executive officer, said in a statement. "The clear-cut economic and environmental advantages of these Hybrids are attracting vast amounts of attention from a wide-range of potential end users."
Lockheed Martin is a Bethesda, MD-based aerospace company.
(Lockheed Martin is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings here.)
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A+.
Lockheed Martin's strengths such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and growth in earnings per share outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: LMT
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.