BETHESDA, Md. - Lockheed Martin (NYSE: NYSE:LMT), the American aerospace, defense, and advanced technologies company with a market capitalization of $117 billion and annual revenue exceeding $71 billion, announced today the establishment of its new subsidiary, Astris AI. According to InvestingPro data, Lockheed Martin stands as a prominent player in the Aerospace & Defense industry, maintaining strong financial health metrics. This venture is focused on providing artificial intelligence (AI) solutions for the U.S. defense industrial base and other sectors requiring highly secure and reliable systems.
Astris AI is set to offer access to Lockheed Martin's advanced AI and machine learning operations (MLOps) software platforms. These platforms are designed to meet the stringent security and compliance standards necessary for operation in highly regulated environments. The subsidiary aims to address the challenges organizations face in developing and deploying high-assurance AI solutions at scale.
The services offered by Astris AI include end-to-end AI engineering and consulting, encompassing strategy, implementation, training, and scaled model development. These services are intended to empower organizations to maintain control over their AI tools and data.
The team leading Astris AI comprises experienced engineers from Lockheed Martin's AI Factory ecosystem. Mike Baylor, chief digital and AI officer, and Greg Forrest, director of AI Foundations, are at the helm of this initiative. Donna O’Donnell, with a background in AI and automation sales, has been appointed as Chief Revenue Officer of Astris AI.
O'Donnell, expressing confidence in Astris AI's capabilities, emphasized the combination of Lockheed Martin's expertise and the subsidiary's agile approach. This fusion is expected to help organizations manage the complexities of the technology landscape with secure and compliant AI solutions. The company's strong market position is reflected in its consistent dividend growth, having raised dividends for 22 consecutive years, as highlighted by InvestingPro analysis.
Lockheed Martin's creation of Astris AI reflects its commitment to advancing national security and the defense industrial base. It also demonstrates the company's initiative to integrate commercial technologies to address emerging threats.
Astris AI joins Lockheed Martin's Evolve portfolio, which focuses on developing new commercial and non-traditional business ventures to support the defense sector. For further information on Astris AI's offerings and updates, the company has invited interested parties to follow their LinkedIn page.
This report is based on a press release statement from Lockheed Martin. For comprehensive analysis of Lockheed Martin's financial performance and detailed metrics, investors can access the full Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 top US stocks with expert insights and actionable intelligence.
In other recent news, Lockheed Martin has been at the center of several significant developments. The defense contractor debunked rumors of a potential cancellation of its $1 trillion F-35 fighter jet contract, asserting these allegations as false. Concurrently, Lockheed Martin completed the sale of $1 billion in senior unsecured notes, aimed to manage its capital structure and address long-term financial obligations. The company also secured a $245 million contract extension from the U.S. Naval Sea Systems Command for the MK-48 Mod 7 Guidance and Control program.
Lockheed Martin's subsidiary, Sikorsky, is set to showcase its MATRIX™ flight autonomy system using an Optionally Piloted UH-60 Black Hawk® helicopter in a series of demonstrations scheduled throughout 2025. These demonstrations aim to evaluate how autonomous aircraft can support Marine operations by providing resupply capabilities in contested environments.
In the financial arena, Lockheed Martin reported strong earnings and revenue results, surpassing estimated third-quarter earnings per share of $6.50 with an EPS of $6.80. The company also increased its full-year 2024 revenue guidance by 0.4% to approximately $71.25 billion.
In response to these developments, Jefferies maintained a Hold rating on Lockheed Martin but reduced the company's price target from $590.00 to $580.00. These recent developments highlight Lockheed Martin's ongoing activities and strategies in the defense sector.
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