LMT - Lockheed Martin to Replace Greece's Entire Helicopter Fleet. Is Lockheed Stock a Buy?
2024-01-08 09:15:00 ET
It's been more than 2,300 years since the nation of Greece was last considered a military powerhouse -- around about the time Alexander the Great was burning down Persepolis.
Today, the country's air forces lean heavily on aging F-16 fighter jets first flown in the 1970s, and even more sclerotic F-4 Phantom jets that date back to 1960, flying alongside similarly Vietnam-war era UH-1 "Huey" helicopters. But Greece's military is about to get an upgrade.
As the U.S. Defense Security Cooperation Agency -- the Pentagon arm responsible for coordinating foreign military sales contracts -- advised Congress last month, the U.S. State Department has just cleared a Greek request to buy a whole fleet of new UH-60 Black Hawk helicopters from Lockheed Martin (NYSE: LMT) .
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Lockheed Martin to Replace Greece's Entire Helicopter Fleet. Is Lockheed Stock a Buy?