Ford Pursues Blast-Proof Vehicles Contracts

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Ford Motor Co. (NYSE:F) is spearheading a move by manufacturers of commercial trucks to compete with defense companies for a possible $54 billion in contracts to make blast-proof armored vehicles to replace aging U.S. military Humvees, said a Bloomberg report.

On Jan. 20, the Army and Marine Corps will open the second development phase for their Joint Light Tactical Vehicle. Truck manufacturers Ford, Navistar International Corp (NYSE:NAV) and Oshkosh Corp. (NYSE:OSK) may go head to head with General Dynamics Corp. (NYSE:GD), Lockheed Martin Corp. (NYSE:LMT) and BAE Systems Plc (BAESY), the defense company teams that nabbed the three first-stage contracts, the report said.

Despite planned cuts to defense spending in the coming decade, the development of armored vehicles that can better protect troops from improvised explosive devices has become a priority for the Department of Defense. Recent Pentagon data says almost two-thirds of all U.S. casualties in Iraq and Afghanistan have been caused by explosive devices.

Here’s how these stocks closed the week:

Ford Motor Co. (NYSE:F): F shares recently traded at $12.04, down $0.1, or 0.82%. They have traded in a 52-week range of $9.05 to $18.88. Volume today was 46,302,524 shares versus a 3-month average volume of 57,592,200 shares. The company’s trailing P/E is 7.22, while trailing earnings are $1.67 per share.

Navistar International Corp. (NYSE:NAV): NAV shares recently traded at $40.29, up $0.21, or 0.52%. They have traded in a 52-week range of $30.01 to $71.49. Volume today was 1,338,369 shares versus a 3-month average volume of 1,274,840 shares. The company’s trailing P/E is 1.78, while trailing earnings are $22.64 per share.

Oshkosh Corporation (NYSE:OSK): OSK shares recently traded at $24.39, down $0.08, or 0.33%. They have traded in a 52-week range of $14.07 to $40.11. Volume today was 684,307 shares versus a 3-month average volume of 981,735 shares. The company’s trailing P/E is 8.16, while trailing earnings are $2.99 per share.

General Dynamics Corp. (NYSE:GD): GD shares recently traded at $70.60, down $0.34, or 0.48%. They have traded in a 52-week range of $53.95 to $78.27. Volume today was 3,513,899 shares versus a 3-month average volume of 1,938,760 shares. The company’s trailing P/E is 9.93, while trailing earnings are $7.11 per share.

Lockheed Martin Corporation (NYSE:LMT): LMT shares recently traded at $81.52, down $0.17, or 0.21%. They have traded in a 52-week range of $66.36 to $82.99. Volume today was 1,474,441 shares versus a 3-month average volume of 2,382,600 shares. The company’s trailing P/E is 9.53, while trailing earnings are $8.55 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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