Lockheed Martin (LMT)

[winston]

not vested

Lockheed Martin (LMT) beat estimates by 7 cents a share, with quarterly profit of $5.79 per share.

Revenue came in above estimates as well, and the company raised its 2020 full-year forecast.

Source: CNBC

[winston]

not vested

Lockheed Martin

This is one of the top aerospace and defense stocks to buy, and many on Wall Street are expecting a very solid continuation of U.S. and foreign defense spending in 2021.

Lockheed Martin Corp. (NYSE: LMT) researches, designs, develops, manufactures, integrates, operates and sustains advanced technology systems, products and services. It also provides a wide range of defense electronics products and IT services.

Being the Pentagon’s prime contractor, Lockheed Martin offers a diverse portfolio of global aerospace, defense, security and advanced technologies. Its leveraged presence in the Army, Air Force, Navy and IT programs guarantees a steady inflow of follow-on orders, not only from the U.S. government but also from many foreign allies of the nation.

Over the past several years, Lockheed Martin’s backlog has substantially outgrown the rest of the industry, supporting the growth outlook for the foreseeable future. The company has exposure to U.S. Department of Defense priority buckets and consistently executes well.

Even if the end-market growth rate slows, many on Wall Street expect continued strong fundamentals, with compounding earnings and cash flows.

Investors receive a 2.94% dividend. The BofA Securities price objective is a stunning $500. The consensus target is $436. Lockheed Martin stock closed most recently at $353.90.

Source: 24/7 Wall Street

[winston]

not vested

The Pentagon has put a decision on approving full-rate production of Lockheed Martin’s $398 billion F-35 fighter program, the subject of numerous design defects and even a criminal investigation, on indefinite hold.

The plane has yet to demonstrate its effectiveness against the most challenging Russian and Chinese air defense systems and aircraft.

Meanwhile, the U.S. Navy’s plan to deliver on time the first of its $128 billion next-generation missile submarine fleet is at risk because of inexperienced contractors with spotty quality control, a government watchdog warned.

And the cost overrun could be as much as $384 million—for the one boat.

Source: Bloomberg

[behappyalways]

Lockheed Martin Predicts Strong Profits As Global Instability Rise
https://www.zerohedge.com/markets/lockh ... lity-rises

[behappyalways]

Lockheed Martin Wins $17BN Interceptor Contract To Protect US Homeland
https://www.zerohedge.com/military/lock ... s-homeland

[winston]

not vested

1Q Earnings

US weapons maker Lockheed Martin on Tuesday (Apr 23) reported a near 14 per cent rise in first-quarter sales, as simmering geopolitical tensions prompt some countries to boost their defence spending, driving demand for new weapons.

Sales in its missiles and fire control unit jumped 25.3 per cent to nearly US$3 billion, boosted by strong demand for high mobility artillery rocket system (Himars) and guided multiple launch rocket system (GMLRS), key weapons used by Ukraine in its conflict with Russia.

Sales in its aeronautics business, the company’s biggest unit that makes the F-35 fighter jets, rose 9.2 per cent to US$6.85 billion.

The missile maker reaffirmed its full-year outlook, projecting net sales of US$68.5 billion to US$70 billion and profit between US$25.65 and US$26.35 per share.

Quarterly net sales rose to US$17.2 billion from US$15.13 billion reported last year.

Source: Phillips