Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION (LMT)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Lockheed Martin : wins contract for U.S. Air Force GPS satellites

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/15/2018 | 01:02am CEST
Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo

WASHINGTON (Reuters) - The U.S. Air Force said on Friday it had chosen Lockheed Martin to build 22 next-generation Global Positioning System satellites worth up to $7.2 billion, part of a major effort to modernize the GPS constellation of satellites.

The so-called GPS III follow-on satellites are expected to be available for launch into space beginning in 2026, the Air Force said.

"The world is dependent on GPS, from getting directions to getting cash from an ATM machine or trading on the stock exchange," Air Force Secretary Heather Wilson said in a statement. "These satellites will provide greater accuracy, and improved anti-jamming capabilities making them more resilient."

General David Goldfein, the Air Force chief of staff, said the new-generation satellites would provide important improvements to the system.

Since the 1991 Gulf war, the U.S. military has "relied on uninterrupted position, navigation and timing signals to employ precision on and over the battlefield," Goldfein said. "This investment in GPS III continues to advance our capabilities into the future."

Lockheed program manager Johnathon Caldwell said the GPS III follow-on contract would lift the GPS system to a "whole new level."

"It takes full advantage of our flexible satellite design to incorporate additional new technology like a 100 percent digital navigation payload, regional military protection and new search and rescue payloads," Caldwell said in a statement.

Lockheed took over GPS manufacturing work from Boeing in 2008 and has been building the first 10 GPS III satellites in a planned network of 32.

The program is years behind schedule. The first GPS III satellite was declared available for launch in September 2017 and is expected to be fired into orbit on a SpaceX rocket sometime before the end of this year, Lockheed said last month as it announced that the second GPS III was ready for launch.

The first 10 of the GPS III satellites are expected to be in orbit by 2023.

Lockheed said the GPS III will be the most powerful GPS satellite ever in orbit, with three times better accuracy and up to eight times improved anti-jamming capabilities.

(Reporting by David Alexander; editing by Eric Beech and Leslie Adler)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LOCKHEED MARTIN CORPORATIO
09/24LOCKHEED MARTIN : CEO tops Fortune Most Powerful Women list
AQ
09/24LOCKHEED MARTIN : Names Dr. Robert Mullins Senior Vice President, Corporate Stra..
PR
09/24LOCKHEED MARTIN : First satellite for GPS III upgrades to launch in December
AQ
09/24LOCKHEED MARTIN : MILITARY $97,666 Federal Contract Awarded to Lockheed Martin
AQ
09/24LOCKHEED MARTIN : MILITARY $1.51 Million Federal Contract Awarded to Lockheed Ma..
AQ
09/24LOCKHEED MARTIN : MILITARY $66,780 Federal Contract Awarded to Lockheed Martin
AQ
09/24LOCKHEED MARTIN : MILITARY $62,096 Federal Contract Awarded to Lockheed Martin
AQ
09/24LOCKHEED MARTIN : MILITARY $48,833 Federal Contract Awarded to Lockheed Martin
AQ
09/24LOCKHEED MARTIN : MILITARY $175,740 Federal Contract Awarded to Lockheed Martin
AQ
09/24LOCKHEED MARTIN : MILITARY $432,560 Federal Contract Awarded to Lockheed Martin
AQ
More news
News from SeekingAlpha
09/24Boeing wins $376M Air Force contract, first leg of $2.4B helicopter deal 
09/22STOCKS TO WATCH : Calling Up Animal Spirits 
09/20Defense stocks down for second day as North Korea seeks denuclearization 
09/18Markets Shrug Off Fresh Trade Salvo (Wall Street Breakfast Podcast) 
09/18WALL STREET BREAKFAST : Markets Shrug Off Fresh Trade Salvo 
Financials ($)
Sales 2018 52 642 M
EBIT 2018 7 126 M
Net income 2018 4 903 M
Debt 2018 12 669 M
Yield 2018 2,42%
P/E ratio 2018 19,76
P/E ratio 2019 17,73
EV / Sales 2018 2,07x
EV / Sales 2019 1,94x
Capitalization 96 136 M
Chart LOCKHEED MARTIN CORPORATION
Duration : Period :
Lockheed Martin Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LOCKHEED MARTIN CORPORATIO
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 379 $
Spread / Average Target 12%
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 CORPORATION5.15%96 136
UNITED TECHNOLOGIES CORPORATION11.37%113 677
GENERAL DYNAMICS0.59%60 637
RAYTHEON7.72%58 039
NORTHROP GRUMMAN CORPORATION-0.26%53 402
BAE SYSTEMS9.67%26 227