NEW YORK (TheStreet) --Lockheed Martin Corp. (LMT) announced today that it received a three year, $350 million contract extension in order to continue providing facilities, development, and operations support of human spaceflight missions at NASA's Johnson Space Center in Houston, TX.
The global security and aerospace company will continue to provide these services to NASA through September 2016, and the contract includes a two-year base period with a one year option.
The total value of the contract now exceeds $1 billion, the company said.
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Shares of Lockheed Martin are up 0.13% to $168.51 in mid-morning trading on Tuesday.
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, good cash flow from operations, growth in earnings per share, increase in net income 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: