Lockheed Martin Stock Price, News & Analysis

The Lockheed Martin Corporation (NYSE: LMT) announced a fourth quarter 2020 dividend of $2.60 per share, marking a $0.20 increase from the previous quarter. This dividend, payable on Dec. 24, 2020, is for shareholders on record by the close of business on Dec. 1, 2020. The board also approved an additional $1.3 billion for its share repurchase program, raising total authorization for future share buybacks to around $3 billion. These actions reflect the company's commitment to returning income to shareholders.

Lockheed Martin (NYSE: LMT) and the University of Colorado Boulder are set to launch the Janus mission in 2022, focusing on binary asteroids. NASA approved the initiative, allowing implementation, scheduling, and budgeting to commence. The mission will deploy two small, nimble spacecraft to explore pairs of binary asteroids, providing unprecedented data to enhance understanding of their evolution. The total mission cost is under $55 million, funded through NASA's SIMPLEx program. This mission aims to motivate further exploration of binary asteroids, advancing technology and science.

Littoral Combat Ship (LCS) 21, the future USS Minneapolis-Saint Paul, successfully completed acceptance trials in Lake Michigan. The trials demonstrated key systems including aviation support and combat capabilities. LCS 21 is the 11th Freedom-variant ship built by Lockheed Martin and is set for delivery to the U.S. Navy early next year. Lockheed's LCS platform has proven adaptability for various missions, enhancing U.S. Navy operations, including drug interdiction efforts. The Freedom-variant is noted for its flexibility, lethality, power, and automation, making it suitable for evolving defense requirements.

On July 30, 2020, the U.S. government submitted its Request for Proposal (RFP) for the Lockheed Martin (NYSE: LMT) built F-35 to Canada, supporting the Future Fighter Capability Project. Canada has been a key partner in the F-35 program, contributing significantly to its development and supply chain. The F-35 is set to enhance the Royal Canadian Air Force's capabilities, ensuring Arctic sovereignty and improving NORAD operations. The program is projected to create approximately 150,000 jobs in Canada over its lifespan, contributing to a global fleet of over 3,200 aircraft.

Lockheed Martin (NYSE: LMT) has developed the aeroshell technology for NASA's Mars 2020 mission, which includes the Perseverance rover and the Ingenuity helicopter. Scheduled to launch on July 30, 2020, the mission aims to explore Mars' geology and potential for past life. The aeroshell, the largest built for a robotic mission, measures 15 feet in diameter, designed to withstand extreme temperatures. Perseverance is expected to land on Mars on February 18, 2021. This collaboration emphasizes Lockheed Martin's expertise in aerospace technology.

Lockheed Martin Corporation (LMT) reported Q2 2020 net sales of $16.2 billion, an increase from $14.4 billion in Q2 2019. Net earnings rose to $1.6 billion ($5.79 per share) compared to $1.4 billion ($5.00) a year earlier. Cash from operations also improved to $2.2 billion from $1.7 billion. The results included a $128 million non-cash impairment charge related to a joint venture sale. Lockheed Martin emphasized strong operational performance and ongoing commitment to national security amid the pandemic.

Lockheed Martin (NYSE: LMT) will host a live webcast for its second quarter earnings results on July 21, 2020, at 11 a.m. EDT. The call will feature insights from CEO James Taiclet, CFO Ken Possenriede, and VP of Investor Relations Greg Gardner, who will discuss financial results and key updates. Earnings results will be published before market opening on the same date. Investors can access the webcast and related financial charts on the Lockheed Martin Investor Relations website, with a replay available until August 4, 2020.

The third Lockheed Martin-built GPS III satellite, GPS III SV03, successfully launched on June 30, 2020, and is now ascending to its operational orbit using its onboard propulsion system. Following separation from the SpaceX Falcon 9 rocket at Cape Canaveral, it will undergo on-orbit testing and is expected to enhance the GPS constellation offering improved accuracy and anti-jamming capabilities. This satellite contributes to the modernization of the GPS system, benefiting over four billion users globally and supporting significant economic advantages, valued at $300 billion annually.

Lockheed Martin Corporation (NYSE: LMT) has declared a $2.40 per share dividend for the third quarter of 2020. This dividend is set to be paid on Sept. 25, 2020, to shareholders recorded as of the close of business on Sept. 1, 2020. Lockheed Martin is a leading global security and aerospace company based in Bethesda, Maryland, employing approximately 110,000 people worldwide and engaged in advanced technology systems and services.