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Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin and Indra Demonstrate Next Generation Radar for Spanish Navy

[PR Newswire] – MOORESTOWN, N.J., May 17, 2016 /PRNewswire/ — Indra and Lockheed Martin recently demonstrated the first phase of integration of new a solid state S-band radar system being developed for the future Spanish F-110 Frigate. During the demonstration, which took place at the Lockheed Martin facility in Moorestown, New Jersey, Lockheed Martin and Indra successfully completed the integration of Indra’s Digital Transmit-Receive modules into Lockheed Martin’s Solid State phased array antenna. Read more on this. Lockheed Martin Corporation (LMT) , with a current market cap of $73.53B, started trading this morning at $243.00. Looking at the equity, the company’s one day range is $240.27 to $243.53 with the price of the stock fluctuating between $181.91 to $245.37 over the last 52 weeks. LMT shares are currently priced at 20.69x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.95x forward p/e ratio. The company pays shareholders $6.60 per share in dividend income per year, for a current yield of 2.73%. According to a consensus of 18 analysts, the earnings estimate of $2.92 per share would be $0.02 worse than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $11.84 is a $1.00 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.58 Billion. If reported, that would be a 8.08% increase over the year-ago quarter. Recently, Stifel downgraded LMT from Buy to Hold (May 13, 2016). Previously, Berenberg Initiated LMT at to Buy. The average price target for LMT shares by the analysts covering the stock is $242.44, which is 0.23% below where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. Navy asks Lockheed to fix issues with littoral combat ships Market Update: Lockheed Martin Corporation (NYSE:LMT) – In Space, in the Sky and on Land: Lockheed Martin Innovates to Create a More Sustainable Future Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed, Austal each win deals to build new U.S. Navy ships
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