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MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION

(LMT)
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Lockheed Martin : President Donald J. Trump Announces F-35 Lightning II Sustainment Work Comes To Milwaukee; Derco, a Lockheed Martin company, is expanding its workforce to support the growing business

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07/16/2019 | 11:38am EDT

MILWAUKEE- During a visit to Derco, a Lockheed Martin company (NYSE: LMT), President Donald J. Trump announced more work is coming to Milwaukee. Derco will provide parts warehousing and distribution sustainment for the F-35 Lightning II, supporting the U.S. Air Force, Marine Corps, Navy and allies around the world.

'From here in Milwaukee, you are supporting magnificent aircraft, and soon you'll support the unstoppable, stealth F-35 Lightning II,' said President Trump. 'I am thrilled to be back in the great state of Wisconsin with the extraordinary men and women of Derco. We are here today to celebrate the triumphant return of American manufacturing, and everything we are doing to keep the assembly lines rolling.'

Derco is growing its workforce by 15 percent by the end of the year. Because of its culture and skilled workforce, Derco has been named one of the Top Workplaces in Milwaukee for the past four years. Approximately 20 percent of Derco employees are veterans.

Derco initially will support the management and delivery of 1,500 different F-35 parts to locations around the globe. This increased work will create more skilled jobs for repair technicians, operations personnel and supply chain management experts.

The F-35 is the most advanced, survivable and connected fighter jet. The United States' program of record is for 2,456 aircraft, and Lockheed Martin is set to deliver 1,000 more to allied nations.

To support the growing business, Derco is investing in its facility and is breaking ground to expand the campus. Derco is also looking to add to its 1,200 suppliers to develop repair capabilities for the F-35 in Milwaukee. Currently, the F-35 provides $1.2 million in economic impact across the supply chain in Wisconsin.

Photos of President's Trump visit to Derco: https://www.smugmug.com/gallery/n-NPRRqk/

For additional information, visit our websites: www.f35.com and www.lockheedmartin.com/derco.

About Derco

Founded in 1979, Derco is based in Milwaukee, Wisconsin, and is a recognized leader in providing aircraft spares distribution, logistics, component repair and technical solutions to customers around the globe. Through solid relationships with premier original equipment manufacturers (OEMs), Derco maintains one of the largest and most diversified aircraft spares inventories in the world. Today, Derco is an integrator and full-service logistics solutions provider supporting military and commercial fleets in 65 countries.

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.

SOURCE Lockheed Martin

(C) 2019 Electronic News Publishing, source ENP Newswire

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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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Mean consensus OUTPERFORM
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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