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4-Traders Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION (LMT)
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Esterline Technologies exploring potential sale - sources

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07/21/2018 | 12:36am CEST

(Reuters) - Aerospace parts maker Esterline Technologies Corp is exploring a potential sale, two people familiar with the matter said on Friday.

Earlier on Friday, the Wall Street Journal reported that the company was exploring a sale, adding that the process was at an early stage and there was no guarantee of a deal.

Esterline did not immediately respond to requests for comment.

Shares of the company, which has a market capitalisation of more than $2 billion, were up around 10 percent at $83 in afternoon trading.

Esterline makes cockpit components and sensors for commercial jetliners, business jets and military aircraft such as Lockheed Martin F-35 fighter jets.

Any deal would add to a spate of consolidation in the industry, as companies look to deploy accrued cash at the same time as defence spending kicks up and firms search for more ways to grow capacity.

In September last year United Technologies Corp acquired Rockwell Collins for $30 billion, and in March TransDigm Group continued an acquisition spree with a $525 million deal for Extant Components Group.

Most recently, in June, Northrop Grumman won U.S. antitrust approval to complete its $7.8 billion acquisition of rocket maker Orbital ATK.

(Reporting by Mike Stone in Farnborough, England; Additional reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D'Silva and Rosalba O'Brien)

By Mike Stone

Stocks mentioned in the article
ChangeLast1st jan.
ESTERLINE TECHNOLOGIES CORPORATION 10.01% 83 Delayed Quote.11.11%
LOCKHEED MARTIN CORPORATION 0.92% 322.55 Delayed Quote.0.47%
NORTHROP GRUMMAN CORPORATION -0.07% 323.93 Delayed Quote.5.55%
TRANSDIGM GROUP 0.55% 364.89 Delayed Quote.32.87%
UNITED TECHNOLOGIES CORPORATION -0.08% 130.26 Delayed Quote.2.11%
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Financials ($)
Sales 2018 51 333 M
EBIT 2018 6 954 M
Net income 2018 4 624 M
Debt 2018 12 796 M
Yield 2018 2,54%
P/E ratio 2018 20,41
P/E ratio 2019 17,94
EV / Sales 2018 2,03x
EV / Sales 2019 1,90x
Capitalization 91 255 M
Chart LOCKHEED MARTIN CORPORATIO
Duration : Period :
Lockheed Martin Corporatio Technical Analysis Chart | LMT | US5398301094 | 4-Traders
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 369 $
Spread / Average Target 14%
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 CORPORATION0.47%91 255
UNITED TECHNOLOGIES CORPORATION2.11%104 296
AIRBUS SE27.42%97 407
RAYTHEON7.23%57 844
GENERAL DYNAMICS-4.02%57 728
NORTHROP GRUMMAN CORPORATION5.55%56 528