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Lockheed Martin Corporation - LMT STOCK NEWS

Welcome to our dedicated page for Lockheed Martin Corporation news (Ticker: LMT), a resource for investors and traders seeking the latest updates and insights on Lockheed Martin Corporation stock.

Lockheed Martin Corporation is a leading global aerospace, arms, defense, information security, and technology corporation. Based in North Bethesda, Maryland, Lockheed Martin was formed by the merger of Lockheed Corporation and Martin Marietta in 1995.

The company is renowned for being the world's largest defense contractor, with significant influence in high-end fighter aircraft markets, notably due to its F-35 Joint Strike Fighter program. The aeronautics segment, which includes the F-35, generates two-thirds of the company's revenue. Other segments encompass rotary and mission systems (including Sikorsky helicopters), missiles and fire control, and space systems, which involve satellite production and partnerships like the United Launch Alliance joint venture.

Lockheed Martin has recently made headlines with its advancements in missile defense. In November 2023, it achieved a major milestone by completing the first Knowledge Point (KP1) for the Next Generation Interceptor program, a crucial step toward the Critical Design Review scheduled for future development. This program aims to counter evolving ballistic missile threats and is pivotal for national security.

The company's Q1 2024 financial results showed a robust performance with net sales of $17.2 billion. Despite a slight dip in net earnings compared to 2023, Lockheed remains confident in meeting full-year financial expectations. Investments in R&D and significant capital projects highlight ongoing efforts to strengthen production capacity and innovation.

Strategic collaborations have bolstered Lockheed Martin's position. For instance, the integration of Elsight’s Halo connectivity platform with the Indago 4 UAS enhances the drone’s operational capabilities. Additionally, partnerships with academic institutions like the University of Iowa have advanced AI applications in air-to-air intercepts, showcasing the company’s commitment to cutting-edge technology.

Lockheed Martin’s commitment to innovation is also evident in its Skunk Works division, which has been pivotal in testing AI and autonomy capabilities through the VISTA X-62A aircraft. This platform has facilitated significant breakthroughs in AI development and integration, essential for future aerospace advancements.

Looking ahead, Lockheed Martin continues to play a critical role in global security and defense, leveraging its technological expertise to innovate and adapt to emerging threats. With a strong financial foundation and strategic initiatives, the company remains poised to maintain its leadership in the defense sector.

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Lockheed Martin (NYSE: LMT) has announced a live webcast of its second-quarter 2024 earnings results on July 23, 2024, at 11 a.m. ET. The presentation will feature CEO James Taiclet, CFO Jay Malave, and VP Maria Ricciardone, discussing the financial results and key updates. The results will be published before the market opens on the same day. The webcast and accompanying presentation slides and financial charts will be accessible on Lockheed Martin’s investor relations website. An on-demand replay will be available through August 6, 2024, along with a podcast.

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Lockheed Martin (NYSE: LMT) has announced a third quarter 2024 dividend of $3.15 per share.

The dividend will be paid on September 27, 2024, to shareholders registered by the close of business on September 3, 2024. Lockheed Martin, a global leader in defense technology, continues to drive innovation and scientific discovery through its all-domain mission solutions and 21st Century Security® vision.

Additional details can be found on the company's official website.

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On June 25, 2024, Lockheed Martin announced the successful launch of the GOES-U weather satellite from NASA's Kennedy Space Center, marking the completion of NOAA's GOES-R series. Lifted by a SpaceX Falcon Heavy rocket, the satellite deployed its solar array and established communications. GOES-U will be renamed GOES-19 and will provide advanced weather imagery, atmospheric measurements, and lightning mapping over North America's East Coast. Lockheed Martin's Advanced Technology Center designed key instruments, including the Geostationary Lightning Mapper and Solar Ultraviolet Imager, enhancing weather forecasting and space weather monitoring. NOAA manages the GOES-R series, with NASA overseeing spacecraft and instrument development. Post-GOES-U, Lockheed Martin will develop the GeoXO constellation for NOAA, offering more accurate weather forecasting into the 2030s.

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NASA has selected Lockheed Martin (NYSE: LMT) to develop the next-generation weather satellite constellation, GeoXO, for NOAA. The initial contract encompasses three spacecraft, with options for four more, totaling an estimated $2.27 billion. GeoXO will enhance weather forecasts and environmental monitoring, building on the GOES-R series. The satellites will feature advancements in air pollution tracking and marine ecosystem observations. The first launch is planned for the early 2030s, with operations extending into the 2050s. Lockheed Martin aims to leverage its 50+ years of experience and modernized LM2100™ satellite bus technology for this mission.

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Lockheed Martin (NYSE: LMT) announced the delivery of the 2,700th C-130 Hercules tactical airlifter. This KC-130J Super Hercules tanker will join the U.S. Marine Corps Aerial Refueler Transport Squadron 252 at Cherry Point, North Carolina. The C-130J model supports 18 mission requirements and is used by operators in 70 nations.

Rod McLean, VP and GM of Lockheed Martin's Air Mobility & Maritime Missions, emphasized the aircraft's versatility and ongoing relevance. The KC-130J can refuel both rotary and fixed-wing aircraft like the F-35B/C. The global fleet of C-130Js, spanning 26 operators in 22 nations, has logged nearly 3 million flight hours.

The aircraft is noted for its evolving capabilities and innovation, playing critical roles in tactical and humanitarian missions worldwide.

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Lockheed Martin's Skunk Works demonstrated AI in air-to-air intercepts using the University of Iowa's L-29 Delfin jets. The AI conducted eight test scenarios, showing intentional and decisive behavior. This was the first live exercise of the new flight interface, exceeding performance observed in simulations. Live tests are part of a broader AI development initiative for air-to-air missions. Additional tests are planned to increase complexity and involve multiple aircraft. Lockheed Martin aims to enhance AI mission performance, adhering to ethical guidelines from the U.S. Department of Defense.

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Lockheed Martin (NYSE: LMT) has signed a deal with Firefly Aerospace for up to 25 launches on Firefly's Alpha rocket through 2029. These launches will support Lockheed Martin's technology demonstration missions and other spacecraft deployments into low-Earth orbit. By leveraging Firefly’s cost-efficient and scalable launch solutions, Lockheed Martin aims to accelerate the development and deployment of new technologies. This long-term partnership is designed to reduce risk, ensure consistent launch availability, and enhance technology investments. The agreement allows Lockheed Martin to diversify its launch options, fostering innovation and maintaining its leadership in space missions.

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Lockheed Martin (NYSE: LMT) announced that its Chief Operating Officer, Frank St. John, and Chief Financial Officer, Jay Malave, will present at the Bernstein's 40th Annual Strategic Decisions Conference. The presentation is scheduled for May 30, 2024, from 8 a.m. to 8:50 a.m. ET. Investors and interested parties can access the live webcast and the audio replay, which will be available for two weeks post-event, via the company's investor relations website.

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Lockheed Martin has announced the election of Dr. Heather Wilson to its board of directors, effective May 22, 2024. Dr. Wilson brings extensive leadership experience from her tenure as the 24th Secretary of the U.S. Air Force, president of the University of Texas at El Paso, and former president of the South Dakota School of Mines & Technology. She has also served in the U.S. House of Representatives and holds advanced degrees from Oxford University. Wilson will serve on Lockheed Martin's Classified Business and Security Committee, bringing strategic insight and deep industry knowledge to the board.

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Elsight collaborated with Lockheed Martin to integrate Elsight's Halo connectivity platform with the Indago 4 Uncrewed Aerial System, enhancing its capabilities for beyond visual line-of-sight (BVLOS) flights. The Halo system ensures continuous connectivity through diverse IP links, improving situational awareness and data transmission for defense, public safety, surveillance, and remote inspection applications.

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FAQ

What does Lockheed Martin Corporation specialize in?

Lockheed Martin Corporation specializes in aerospace, arms, defense, information security, and technology.

When was Lockheed Martin formed?

Lockheed Martin was formed in March 1995 by the merger of Lockheed Corporation and Martin Marietta.

What is the significance of the F-35 Joint Strike Fighter program?

The F-35 Joint Strike Fighter program is significant as it has helped Lockheed Martin dominate the high-end fighter aircraft market and contributes two-thirds of the company's revenue.

What recent milestone did Lockheed Martin achieve in missile defense?

In November 2023, Lockheed Martin achieved a major milestone by completing the first Knowledge Point (KP1) for the Next Generation Interceptor program.

How did Lockheed Martin perform financially in Q1 2024?

In Q1 2024, Lockheed Martin reported net sales of $17.2 billion, demonstrating a strong start to the year despite a slight dip in net earnings compared to 2023.

What are some of Lockheed Martin's strategic collaborations?

Lockheed Martin has collaborated with Elsight for drone connectivity and the University of Iowa for AI applications in air-to-air intercepts.

What advancements has Lockheed Martin made in AI and autonomy?

Lockheed Martin's Skunk Works division has tested AI and autonomy capabilities through the VISTA X-62A aircraft, facilitating significant breakthroughs in AI development.

Where is Lockheed Martin headquartered?

Lockheed Martin is headquartered in North Bethesda, Maryland, in the Washington, D.C. area.

What are Lockheed Martin's main business segments?

Lockheed Martin's main business segments are aeronautics, rotary and mission systems, missiles and fire control, and space systems.

What is Lockheed Martin's vision for the future?

Lockheed Martin’s vision is to drive innovation and advance scientific discovery, ensuring that its technologies keep those they serve ahead of emerging threats.

Lockheed Martin Corporation

NYSE:LMT

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LMT Stock Data

110.34B
239.94M
0.07%
74.35%
0.9%
Guided Missile and Space Vehicle Manufacturing
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United States of America
BETHESDA