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MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION

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Lockheed Martin : Future U.S. Navy Frigates Strengthened by Lockheed Martin Integration and Test Experience

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07/19/2019 | 10:00am EDT

Future U.S. Navy Frigates Strengthened by Lockheed Martin Integration and Test Experience

MOORESTOWN, N.J., July 19, 2019 - The U.S. Navy selected Lockheed Martin (NYSE: LMT) as the Combat System Ship Integration & Test agent for the Navy's future Guided Missile Frigate (FFG(X)) ship program.

The Combat System Ship Integration & Test contract will ensure the overall integration of the combat system elements into the Frigate ship design and validate the installation through the completion of waterfront testing. The 10-year contract will consist of one base year and nine option years' worth up to $125 million.

'The U.S. Navy will experience substantial efficiency by utilizing the existing processes, tools, and experience of the Lockheed Martin ship integration and test team,' said Chris Minster, Program Director, Lockheed Martin Surface Navy Integration Systems. 'While minimizing ship impact and cost, our Ship Integration & Test team will enable the successful integration of the combat system elements into the future frigate ship design.'

As the warfighter's needs change, Lockheed Martin has continuously evolved to quickly provide innovative and affordable capabilities to the fleet. Lockheed Martin has over 40 years of ship integration and test experience including Aegis Ticonderoga class guided missile cruisers and Arleigh Burke class guided missile destroyers.

As the Navy's trusted Combat System Engineering Agent (CSEA), Lockheed Martin has successfully delivered and integrated Aegis and Aegis-based products on 126 platforms in eight nations, with an additional 23 under construction or planned. Aegis and Aegis-derived systems are in service in U.S. Navy cruisers, destroyers, Littoral Combat Ships, Coast Guard National Security Cutters and Aegis Ashore sites. The navies of Japan, Spain, Norway, the Republic of Korea, and Australia have also chosen Aegis to protect their nations.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

For further information: Jennifer Stringfellow, 856-220-5081, Jennifer.L.Stringfellow@lmco.com

Disclaimer

Lockheed Martin Corporation published this content on 19 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2019 13:59:08 UTC

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Financials (USD)
Sales 2019 59 140 M
EBIT 2019 8 402 M
Net income 2019 6 008 M
Debt 2019 11 418 M
Yield 2019 2,36%
P/E ratio 2019 17,9x
P/E ratio 2020 15,2x
EV / Sales2019 2,01x
EV / Sales2020 1,88x
Capitalization 107 B
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Number of Analysts 21
Average target price 392,89  $
Last Close Price 380,47  $
Spread / Highest target 12,5%
Spread / Average Target 3,26%
Spread / Lowest Target -12,5%
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NameTitle
Marillyn A. Hewson Chairman, President & Chief Executive Officer
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
Bruce L. Tanner Chief Financial Officer & Executive Vice President
Nolan Don Archibald Lead Independent Director
Joseph W. Ralston Independent Director
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