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MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION

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Lockheed Martin : awarded $1.48 billion Saudi missile defence contract - Pentagon

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07/19/2019 | 05:56pm EDT
FILE PHOTO: U.S. President Trump hosts

WASHINGTON (Reuters) - Lockheed Martin was awarded a $1.48 billion (£1.1 billion) contract to build the THAAD missile defence system for Saudi Arabia, bringing the total value of the deal to $5.36 billion, the Pentagon said on Friday.

WASHINGTON (Reuters) - Lockheed Martin was awarded a $1.48 billion (£1.1 billion) contract to build the THAAD missile defence system for Saudi Arabia, bringing the total value of the deal to $5.36 billion, the Pentagon said on Friday.

The new contract was a modification to a previously awarded agreement to produce the Terminal High Altitude Area Defense interceptor for Saudi Arabia, the Pentagon said.

In November 2018, Saudi and U.S. officials signed letters of offer and acceptance formalising terms for Saudi Arabia's purchase of 44 THAAD launchers, missiles and related equipment.

In April Lockheed was awarded a $2.4 billion contract for THAAD interceptor missiles, some of which are slated to be delivered to the Kingdom of Saudi Arabia.

The latest contract is for interceptor support items.

Lockheed Martin, the biggest U.S. arms maker, builds and integrates the THAAD system, which is designed to shoot down short-, medium- and intermediate-range ballistic missiles. Raytheon, another U.S. firm, builds its advanced radar.

(Reporting by David Alexander; Editing by Tom Brown)

Stocks mentioned in the article
ChangeLast1st jan.
LOCKHEED MARTIN CORPORATION 0.75% 385.88 Delayed Quote.47.37%
RAYTHEON 1.03% 186.98 Delayed Quote.20.68%
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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 2,32%
P/E ratio 2019 18,2x
P/E ratio 2020 15,4x
EV / Sales2019 2,04x
EV / Sales2020 1,91x
Capitalization 109 B
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Technical analysis trends LOCKHEED MARTIN CORPORATIO
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 393,42  $
Last Close Price 385,88  $
Spread / Highest target 10,9%
Spread / Average Target 1,95%
Spread / Lowest Target -13,7%
EPS Revisions
Managers
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
Sector and Competitors
1st jan.Capitalization (M$)
LOCKHEED MARTIN CORPORATION47.37%108 158
UNITED TECHNOLOGIES CORPORATION20.17%109 864
NORTHROP GRUMMAN CORPORATION51.91%62 458
GENERAL DYNAMICS CORPORATION19.30%54 312
RAYTHEON20.68%51 548
HARRIS CORPORATION--.--%47 422