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Company Update: Lockheed Martin Corporation (NYSE:LMT) – Sikorsky and Turkish Industry Launch Program to Build T70 Utility Helicopters

[PR Newswire] – STRATFORD, Conn., June 16, 2016 /PRNewswire/ — Sikorsky, a Lockheed Martin Company (LMT), along with the Government of the Republic of Turkey and members of the Turkish aerospace industry have activated contractual agreements under the Turkish Utility Helicopter Program (TUHP) to produce the T70 utility helicopter based on Sikorsky’s successful multi-role Black Hawk utility aircraft. Approved by the U.S. and Turkish governments, the agreements license TUHP prime contractor Turkish Aerospace Industries (TAI) to build and deliver 109 T70 helicopters over the next 10 years. Read more on this. Lockheed Martin Corporation (LMT) , currently valued at $73.03B, opened this morning at $239.05. During today’s session, LMT traded between $238.09 to $240.45 with the price of the stock fluctuating between $181.91 to $245.37 over the last 52 weeks. Priced at 20.21x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry’s 26.79x forward p/e ratio. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 2.77%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $2.92 per share, which would be $0.02 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $11.85, which would be a $1.01 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.57 Billion. If reported, that would be a 7.99% increase over the year-ago quarter. Recently, Berenberg downgraded LMT from Buy to Hold (May 31, 2016). Previously, RBC Capital Mkts downgraded LMT from Outperform to Sector Perform. With the above information in mind, readers should note that the average price target is $243.07, which is 1.68% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – Ready to Go: Lockheed Martin-Built MUOS-5 Secure Communications Satellite Encapsulated for June 24 Launch Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Delivers NASA’s OSIRIS-REx Spacecraft to Launch Site Company Update: Lockheed Martin Corporation (NYSE:LMT) – Thai Aviation Services Selects Fleet of Sikorsky Helicopters to Support Gulf of Thailand Operations
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