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Stock Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. Senate committee chairman questions Pakistan F-16 deal

[Reuters] – The chairman of the Senate Foreign Relations Committee on Tuesday sharply questioned U.S. plans to sell F-16 fighter jets to Pakistan, questioning Pakistani actions he described as threatening U.S. troops as they try to stabilize Afghanistan. “They continue to support the Taliban, the Haqqani network and give safe haven to al Qaeda,” Republican Senator Bob Corker said to Secretary of State John Kerry, who was testifying to the committee about the State Department’s annual budget request. The U.S. government said on Feb. 12 it had approved the sale to Pakistan of up to eight F-16 fighter jets built by Lockheed Martin Corp, radar and other equipment in a deal valued at $699 million. Read more on this. Lockheed Martin Corporation (LMT) , with a current value of $65.30B, opened at $214.83. During today’s session, LMT traded between $213.87 to $215.74 with a trailing 52-week range being $181.91 to $227.91. LMT shares are currently priced at 18.15x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 40.18x forward p/e ratio. And for dividend hunters, the company pays shareholders $6.60 per share annually in dividends, yielding 3.09%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $2.60 per share, which would be $0.14 worse than the year-ago quarter and a $0.18 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $11.80 is a $0.96 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.32 Billion. If realized, that would be a 11.97% increase over the year-ago quarter. More recently, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $235.20, which is 9.48% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Company Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. okays sale of 8 Lockheed F-16 fighter jets to Pakistan -Pentagon Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin wins $784 mln U.S. long-range radar deal-Pentagon Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed wins deal worth up to $428 mln for U.S. Navy combat systems
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