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The aerospace and defense major Lockheed Martin Corporation (LMT) has received a total of five standalone contracts from the Department of Defense (DoD). The total contract value is $256.6 million.

The lion’s share of these multiple contracts, with a total ceiling value of $146 million, entails the support of the operations of the Joint Land Component Constrictive Training Capability. It involves the largest U.S. defense contractor to assist in the training of officers at the brigade level and above. The contract would support training operations through Mar 31, 2018.

Other smaller contracts comprise a $65 million worth of foreign military sales agreement related to the Aegis Weapon System Modernization agenda in Japan. This type of modification contract is scheduled to be completed by Jan 2017.

The company has also received another foreign military sales contract worth $19.9 million. This is to support the Patriot Advanced Capability Missile Support Center in the Netherlands, Japan, and the United Arab Emirates.

Again, Lockheed is responsible for the supply of engineering and technical support for British Trident II Missile Systems. This $18.7 million deal will last till Mar 2015 and is mainly intended to maintain the planned programs and prerequisites for the Fleet Ballistic Missile Program of U.K.

Lastly, Lockheed gets a $7 million firm-fixed-price contract. This agreement allows the company to execute indefinite weapons systems support at Arizona’s Luke Air Force Base through Mar 31, 2014.

Lockheed Martin is a well-managed defense major and its operational effectiveness is evident in its industry-high Return on Investment (ROI) of 34.9% in 2012. The company has already an order backlog of approximately $82.3 billion at the end of 2012.

Recently, LMT received an order from the National Aeronautics and Space Administration (:NASA) to supply biomedical, medical and health services for all human spaceflight programs of the latter. The contract, awarded by NASA's Johnson Space Center, has a maximum potential value of $250 million, over 10 years.

Over the long term, the earnings growth rate is pegged at 6.08% while the top line is expected to increase at a clip of 2.66%. The last 90 days saw the Zacks Consensus Estimate for 2013 scale up 7.6% to $8.87. With last year’s earnings at $8.45 per share, the 2013 profit level is expected to climb approximately 5%.

Lockheed currently retains a Zacks Rank #2 (Buy). Other stocks from the sector that are also performing well presently include Ducommun Inc. (DCO) with a Zacks Rank #1 (Strong Buy), and Alliant Techsystems Inc. (ATK) and The Boeing Company (BA) with a Zacks Rank #2 (Buy).