However, several CEOs indicated they’re evaluating their approach to stock buybacks amid pressure from the White House and the Pentagon. The company announced earlier this month it had agreed to a multiyear production framework agreement for Patriot Advanced Capability-3 missile production, and Taiclet said Lockheed has reached a similar deal on its Terminal High Altitude Area Defense interceptor. “Many large contractors—while underperforming on existing contracts—pursue newer, more lucrative contracts, stock buybacks, and excessive dividends to shareholders at the cost of production capacity, innovation, and on-time delivery,” the order states. Pentagon InvestmentsBut even as Pentagon leaders criticize some underperforming defense companies, the department in recent months has announced major partnerships with other firms. The strategy is straightforward.”Inside Defense reported Jan. 28 that more deals between the Pentagon and industry could materialize in the near future, citing comments from Pentagon acquisition chief Michael Duffey.