by winston » Thu May 25, 2017 9:33 pm
vested
Lockheed Martin
This is a top aerospace and defense stock to buy, and many on Wall Street are expecting a very solid continuation of U.S. and foreign defense spending.
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.
The company operates in five principal business segments: Aeronautics, Missiles and Fire Control, Mission Systems and Training, Space Systems, and Information Systems & Global Solutions.
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 a large number of foreign allies of the nation.
The company recently secured a contract for providing flight-line spare parts. Valued at $750 million, this is a five-year base contract with a three-year and a two-year option period. Lockheed Martin will complete work under this agreement utilizing fiscal 2017 through 2022 defense working capital funds and expects to finish the project by March 31, 2022.
Lockheed Martin shareholders are paid a very solid 2.6% dividend. Merrill Lynch has set its price objective at $305, while the posted consensus target price is at $285.42. The stock closed trading most recently at $280.05 a share.
Source: 24 7 Wall St
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