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Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Second batch of U.S. F-16 jets arrives in Iraq

[Reuters] – Iraq has received a second batch of F-16 fighter jets from the United States, a U.S. military spokesman said on Wednesday. Iraq ordered 36 of the $65 million Lockheed Martin Corp planes, but initial deliveries were delayed because of security concerns after Islamic State militants overran large areas of the country last year. Delivery of the planes has also been limited by the training of Iraqi pilots, which can take up to two years, said Colonel Steve Warren, a spokesman for the U.S.-led military campaign against Islamic State. Read more on this. Lockheed Martin Corporation (LMT) , valued at $64.15B, opened at $212.00. Looking at the stock, its one day range is $210.13 to $212.66 with the price of the stock fluctuating between $181.91 to $227.91 over the last 52 weeks. Priced at 17.82x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry ’s 42.68x forward p/e ratio. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 3.13%. According to a consensus of 16 analysts, the earnings estimate of $2.61 per share would be $0.13 worse than the year-ago quarter and a $0.19 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.81, which would be a $0.97 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.35 Billion. If realized, that would be a 12.27% increase over the year-ago quarter. In terms of ratings, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. The average price target for LMT shares by the analysts covering the stock is $234.53, which is 10.63% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – F-35 jets headed to UK air shows this summer-Marines Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Receives $528 Million THAAD Missile-Defense Contract Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Increases Share Repurchase Authority by $3.0 Billion
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