NEW YORK (TheStreet) -- Shares of Lockheed Martin Corp. (LMT) are down by -0.13% to $158.10 at the start of trading on Tuesday as the global security and aerospace company is still dealing with an investigation into why an engine in one of their F-35 Joint Strike Fighters caught fire on June 23.
The investigation has forced the grounding of the entire F-35 fleet, which could cause an issue for the business as the $399 billion weapons program is scheduled to make its international debut at two U.K.-based airshows beginning this Friday, the Wall Street Journal reports.
The Pentagon has not yet decided whether or not the F-35 will appear at the two shows, at least four F-35Bs, a type of the jet that can take off and land vertically, were scheduled to take part in the air shows.
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The fighter plane has already missed a scheduled international event in Scotland, a flyover during the naming of a Royal Navy aircraft carrier, the HMS Queen Elizabeth.
The Farnborough and Air Tattoo airshows are important events for U.S. contractors looking to increase international sales, the Journal added.
Separately, TheStreet Ratings team rates LOCKHEED MARTIN CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate LOCKHEED MARTIN CORP (LMT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."