LMT - Lockheed Martin Corporation

NYSE - Nasdaq Real-time price. Currency in USD
386.12
+2.07 (+0.54%)
As of 3:33PM EST. Market open.
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Previous close384.05
Open384.00
Bid385.81 x 1100
Ask385.90 x 900
Day's range384.00 - 387.77
52-week range241.18 - 399.96
Volume478,987
Avg. volume1,073,182
Market cap109B
Beta (5Y Monthly)0.95
PE ratio (TTM)18.36
EPS (TTM)21.03
Earnings date27 Jan 2020 - 31 Jan 2020
Forward dividend & yield9.60 (2.49%)
Ex-dividend date2019-11-29
1y target est404.00
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  • Lockheed Martin Wins Deal to Support F-35 Aircraft Program
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  • Bloomberg

    Pentagon Must Demand Refunds on Flawed F-35 Parts, Congress Says

    (Bloomberg) -- The Pentagon must press Lockheed Martin Corp. to recoup fees paid to the No. 1 defense contractor for F-35 parts that weren’t ready to use in the planes after delivery to the military, according to the planned defense policy bill for this fiscal year.“Consistent with the findings and recommendations” of the Pentagon inspector general in a June report, the Pentagon “shall seek relief” for delivery of “non-compliant ready-for-issue spare parts pursuant to a contract under the F–35 aircraft program,” lawmakers said in the policy report for the $738 billion authorization measure.The House is expected to approve the conference report on the measure (S. 1790) as early as Wednesday, sending it to the Senate for final passage.Lockheed failed to supply ready-to-install spare parts, from wheels and tire assemblies to seats -- and may have been overpaid as much as $10.6 million, according to the inspector general.The parts were considered inadequate for installation not because of safety or manufacturing problems but because they were delivered without the required log of electronic data needed by maintenance crews, containing information such as a part’s history and its remaining useful life, according to the report. Parts aren’t supposed to be installed without the data.Pentagon F-35 spokesman Greg Kuntz said in a statement that the program office and the Defense Contract Management Agency have collected data from Lockheed for an analysis that could serve as a basis for negotiations with the company. “The program office in coordination with the DCMA will make a determination early next year on potential compensation for previous” noncompliant parts, he said.Lockheed Martin spokeswoman Carolyn Nelson said in a statement that the company “was paid in accordance with the contractual agreements. The contract payments referenced in the report are calculated on a number of factors, including some that are controlled by the U.S. Government and are outside of Lockheed Martin’s control.”To contact the reporter on this story: Tony Capaccio in Washington at acapaccio@bloomberg.netTo contact the editors responsible for this story: Bill Faries at wfaries@bloomberg.net, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Bloomberg

    How Blacklisting Companies Became a Trade War Weapon

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Tariffs aren’t the only weapon in a trade war. Countries are also turning to “blacklists” to restrict the economic activities of certain foreign companies. While such steps are often described as necessary to preserve national security, they’re increasingly being deployed as policy tools to gain leverage in trade negotiations. In the case of the U.S. and China, disputes over human rights or geopolitics also can play a role.1\. Where is this happening?President Donald Trump has placed dozens of Chinese companies on the U.S. Commerce Department’s “entity list” -- a classification that restricts their ability to purchase U.S. software and components. China’s government has been considering hitting back with a blacklist of its own, targeting foreign companies, organizations and people it calls “unreliable entities.” Export powerhouses Japan and South Korea also have deployed trade restrictions in a renewal of a long feud dating back to Japan’s colonization of the Korean peninsula in the early 20th century.2\. Who is on the U.S. list?The most prominent among those blacklisted in May, primarily on national security grounds, is Huawei Technologies Co., the telecommunications giant at the forefront of fifth-generation, or 5G, mobile technology. In October, the U.S. added 28 Chinese companies -- including another eight technology giants -- for alleged human rights violations against Uighur Muslims in China’s far west Xinjiang province. Those companies include two of the world’s largest manufacturers of video surveillance products, Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co., and a pair of artificial-intelligence companies, SenseTime Group Ltd. and Megvii Technology Ltd.3\. How is China responding?Slowly. In May, it said it was compiling its own list of “unreliable entities,” defined as those having “severely damaged the legitimate interests” of Chinese firms by not obeying market rules, violating contracts or blocking or cutting off supply for noncommercial reasons. None were identified but FedEx Corp. has been under particular scrutiny after China accused it of mis-routing some parcels sent by Huawei. In July, Chinese state media raised the specter of backlash against U.S. companies including General Dynamics Corp. and Honeywell International Inc. in connection with a proposed $2 billion U.S. arms sale to Taiwan. A month later, China vowed retaliation against U.S. companies participating in a proposed $8 billion U.S. sale of Lockheed Martin Corp. F-16 fighter jets to Taiwan. It also has pledged to retaliate against Trump’s sanctions related to human rights violations.4\. When will that happen?Soon, the Communist Party-backed Global Times said in early December. It reported said the list was being sped up in response to a bill moving through the U.S. Congress requiring measures against Chinese officials involved in alleged abuses of Uighurs. The bill passed the Senate in September and the House was set to vote on it in December. However, Chinese officials have said “soon” before.5\. What does it mean to be blacklisted by the U.S.?Those on the U.S. entity list are prohibited from doing business with American companies without first obtaining a U.S. government license. It was created in 1997 as a way to sanction companies that helped build weapons of mass destruction. It’s since been expanded to cover activities considered “contrary to the national security or foreign policy interests of the United States.” Targets can be “businesses, research institutions, government and private organizations, individuals, and other types of legal persons,” according to the Commerce Department’s Bureau of Industry and Security, which administers the list as part of U.S. Export Administration Regulations.6\. What about by China?Unclear. “Necessary measures will be taken” against those listed, was all Ministry of Commerce spokesman Gao Feng said when he announced it May 31. However, the broad definition opens the possibility that a great swath of the global technology industry could be targeted, including U.S. giants such as Google, Qualcomm and Intel, as well as non-American suppliers that have cut off Huawei like Toshiba Corp. and SoftBank Group Corp.’s ARM Holdings. Global Times Editor-in-Chief Hu Xijin said on his Twitter feed that U.S. officials and diplomats might face visa and travel restrictions.7\. What explains the increased use of blacklists?It’s part of what trade hawks in both governments see as a generational fight for technological and economic supremacy of the 21st century. The Chinese government has leveraged its massive state resources to support industrial policies like “Made in China 2025,” and a 2017 development strategy that aims to make China the world’s primary artificial intelligence innovation center by 2030. The Trump administration, backed by many in Congress, views this as a threat to America’s economic and national security and has actively sought to curb China’s technological ambitions.To contact the reporters on this story: Bryce Baschuk in Geneva at bbaschuk2@bloomberg.net;Brendan Murray in London at brmurray@bloomberg.netTo contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Laurence Arnold, Grant ClarkFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Lockheed Martin Wins $328M Deal to Acquire F-35 Components
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  • Turkey Begins Testing Missile Radars at Heart of Row With U.S.
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    (Bloomberg) -- Turkey will test a component of its newly acquired Russian air defense system, a step that risks escalating a dispute with the U.S. and touching off possible sanctions. The lira reversed gains.Military aircraft will be used in the capital Ankara on Monday and Tuesday during the testing of the S-400 system’s radar-detection equipment, a Turkish defense official said, asking not to be identified in line with his department’s restrictions.The decision comes after President Recep Tayyip Erdogan said that he told President Donald Trump during a meeting this month that Turkey wouldn’t give up on deployment of the systems, risking penalties championed in Congress.“What does testing mean? It means they have turned on the thing,” said Cristian Maggio, the head of emerging-market research at TD Securities in London. “So sanctions become an even more concrete possibility. They have always been, but now they may seem possible and imminent.”The two NATO allies have been sparring over the potential risks posed by the purchase to the Pentagon’s costliest weapons program, the F-35 fighter jet built by Lockheed Martin Corp.Top Pentagon officials have repeatedly said Turkey will not be able to continue building components for the F-35 or buy the jet if it continues with its deployment of the S-400. The S-400 system was designed to shoot down U.S. and allied aircraft at greater ranges and altitudes than older missiles. U.S. officials are concerned that sensitive technology in its advanced F-35 fighter plane designed to evade such a system could be compromised and used to improve Russian technology if Turkey has both.“Turkey’s insistence on moving forward with the S-400 is inconsistent with its commitments to NATO and will have impacts on Turkish interoperability with the alliance,” Lieutenant Colonel Carla Gleason, a Pentagon spokeswoman, said in a statement on Monday.Trump said after his Nov. 13 meeting with Erdogan that Turkey’s deal with Moscow presents “some very serious challenges” for the U.S., and directed Secretary of State Michael Pompeo to try to resolve the impasse.The U.S. response to the radar tests will be “crucial” to investor sentiment surrounding Turkish assets, according to Piotr Matys, a strategist at Rabobank in London.“Any indication that Trump’s positive attitude toward Turkey is fading amid growing political pressure from Congress would provide USDTRY with a much stronger upside traction,” Matys said.Fear of such a fallout was already apparent in the lira’s reaction to Monday’s news. The currency fell as much as 0.5% and was trading 0.4% lower at 5.7339 per dollar at 12:27 p.m. in Istanbul. The yield on Turkey’s two-year benchmark notes rose 7 basis points to 11.93% and Istanbul’s benchmark stock exchange swung to losses.(Updates with Pentagon comment in seventh paragraph)\--With assistance from Tugce Ozsoy and Glen Carey.To contact the reporter on this story: Firat Kozok in Ankara at fkozok@bloomberg.netTo contact the editors responsible for this story: Alaa Shahine at asalha@bloomberg.net, ;Onur Ant at oant@bloomberg.net, ;Riad Hamade at rhamade@bloomberg.net, Amy Teibel, Mark WilliamsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Lockheed Martin Wins Navy Deal to Configure CH-53K Aircraft
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  • Bloomberg

    U.S. Approves $1 Billion Sale of Naval Guns to India

    (Bloomberg) -- The U.S government has approved the sale of naval guns worth $1 billion to India in the biggest defense deal between the two countries in four years.Putting the U.S. among the top three global arms suppliers to India, the State Department notified the Congress on Nov. 19 of the possible foreign military sale of as many as 13 naval guns made by the Minneapolis-based BAE Systems Land and Armaments.Prime Minister Narendra Modi’s government had made a request to buy the MK 45 naval guns and 3,500 D349 ammunition from the U.S. government, a Defense Security Cooperation Agency notice said.The MK-45 Gun System allows India’s navy to conduct anti­surface warfare and anti-air defense missions, while enhancing interoperability with US and other allied forces.The proposed sale will not alter the basic military balance in the region -- instead it will support the foreign policy and national security of the U.S. by improving the security of a strategic regional partner, the notice said.‘Future Threats’The proposed sale will improve India’s capability to meet current and future threats from enemy weapon systems. India will use the enhanced capability as a deterrent to regional threats and to strengthen its homeland defense.The purchase is part of Modi’s plan to spend $250 billion by 2025 to modernize the armed forces to help meet the twin challenge from neighbors and rivals Pakistan and China. India has fought three major wars with Pakistan and one with China over territorial disputes along its western and northern borders.Since 2007, U.S. has notched up defense deals worth $17 billion with India, competing with traditional arms suppliers Russia and Israel to complete the top three slots.In the 12 years, the U.S. has sold the Boeing Co. C-17 Globemaster long-range transport aircraft, Lockheed Martin C-130 Super Hercules special cargo aircraft, M777 ultra light howitzers, Apache gunship and Chinook cargo helicopters and more to India, which is listed by SIPRI as the second largest arms importer globally in 2018.To contact the reporter on this story: N. C. Bipindra in New Delhi at nbipindra@bloomberg.netTo contact the editor responsible for this story: Ruth Pollard at rpollard2@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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