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

LOCKHEED MARTIN CORPORATION (LMT)
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Lockheed Martin Corporation : Lockheed Martin clinches $4 billion Pentagon missile defence deal

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09/21/2013 | 12:39pm CET
Handout photo of workers on the moving line and forward fuselage assembly areas for the F-35 JSF at Lockheed Martin Corp's factory located in Fort Worth, Texas

WASHINGTON (Reuters) - The Pentagon said on Friday it had finalized a contract worth nearly $4 billion (2 billion pounds) with Lockheed Martin Corp to supply additional missile defence equipment to the United States and the United Arab Emirates.

The deal involves Lockheed's Terminal High Altitude Area Defense (THAAD) missile defence system that is designed to intercept ballistic missiles in midair, according to the Pentagon's daily digest of major weapons contracts.

The contract reflects growing confidence and demand for the missile defence system, said Riki Ellison, founder of the non-profit Missile Defense Advocacy Alliance.

The deal, which has been in negotiation for several years, will combine orders for the United States and UAE, generating savings for the United States of about 10 percent, said Mat Joyce, Lockheed vice president and THAAD program manager.

It includes 192 interceptors for the UAE and up to 110 interceptors for the U.S. Army, including an option for fiscal 2014 that is valued at $352 million, to be exercised no later than December 31, according to the Pentagon announcement.

Joyce said the option would allow the U.S. government to benefit from the lower pricing at a time when it is facing likely additional reductions in the U.S. defence budget.

The United States is in talks with Qatar on a possible sale of the THAAD missile defence system.

Saudi Arabia, Japan and South Korea have also expressed interest, Joyce said.

The U.S. Missile Defense Agency last week conducted the first operational test of the THAAD system and its ability to work together with the Aegis combat system on a guided-missile destroyer. Working together, the two systems intercepted two medium-range ballistic missile that were fired nearly simultaneously.

Earlier this year, after North Korea threatened to launch a nuclear attack on the United States, the Pentagon moved two Aegis destroyers to the western Pacific and a THAAD missile system to its Pacific territory of Guam.

(Reporting by Patrick Rucker and Andrea Shala-Esa; Editing by Eric Beech and Ron Popeski)

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ChangeLast1st jan.
LOCKHEED MARTIN CORPORATION -0.51% 358.69 Delayed Quote.10.47%
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Financials ($)
Sales 2018 51 075 M
EBIT 2018 6 621 M
Net income 2018 4 375 M
Debt 2018 12 637 M
Yield 2018 2,29%
P/E ratio 2018 23,81
P/E ratio 2019 20,44
EV / Sales 2018 2,25x
EV / Sales 2019 2,13x
Capitalization 102 B
Chart LOCKHEED MARTIN CORPORATIO
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Lockheed Martin Corporatio Technical Analysis Chart | LMT | US5398301094 | 4-Traders
Technical analysis trends LOCKHEED MARTIN CORPORATIO
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 380 $
Spread / Average Target 5,8%
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
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