Updated with a statement from Lockheed Martin.
Barely a week after taking shots at Boeing (BA) , President-elect Donald Trump took aim at Lockheed Martin (LMT) , saying costs on the contractor's much-delayed F-35 fighter program are out of control.
The F-35 has been both praised as a marvel of technology and cited as an example of cost overruns. The program has been plagued by delays and technical issues but is at long-last nearing delivery, with Lockheed hoping that one day the F-35 could account for as much as 50% of its revenue.
Trump, in a tweet Monday morning -- said the F-35 "program and cost is out of control." The president-elect said that "billions of dollars can and will be saved on military (and other) purchases after January 20." The remarks were similar to comments Trump made over the weekend when he criticized how frequently government dealmakers end up working for contractors.
Shares of Lockheed traded down 3.9% in trading on Monday.
Trump's comments come just a week after he criticized Boeing over the potential cost of the next generation Air Force One, causing a similar but temporary plunge in Boeing's share price. Even if Lockheed's dip is temporary it is a reminder to investors in government-sensitive sectors to be on alert, and a cause for concern that a much-anticipated uptick in defense spending in 2017 may not be as lucrative to contractors as once hoped.
Trump is hardly the first to call into question the F-35's sticker price, with some analysts estimating that nearly $1 trillion has been spent by various parties on development of the new stealth jet. The Pentagon has already been pushing hard to bring down the cost of the jet, which initially was priced at more than $100 million per unit, last month placing a $7.2 billion order for 90 new F-35s or about $80 million per frame.
Lockheed was awarded the initial contract to develop the stealth fighter in 2001, and the jets over the years have had so many mechanical and electrical issues that critics including Sen. John McCain at times have called the program "a disgrace."
In a statement, Lockheed said it welcomes "the opportunity to address questions the President-elect" has about the F-35.