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10 Stocks Taking Care of Investors: No. 3 Lockheed Martin (LMT)
These 10 stocks have been rewarding investors with share buybacks, strong dividends, sales/earnings and stock performance and are worthy cornerstones of any portfolio. You can track the entire series here.
Number 3: Lockheed Martin (NYSE: LMT)
Lockheed Martin is a global security company that is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. In 2008, 84% of the company's net sales were made to the U.S. Government, either as a prime contractor or as a subcontractor. Sales to foreign governments (including foreign military sales funded, in whole or in part, by the U.S. Government) amounted to 13% of net sales in 2008, while 3% of our net sales were made to commercial and other customers. Lockheed Martin operate four principal business segments: Electronic Systems, Information Systems & Global Services (IS&GS), Aeronautics and Space Systems. In 2008, Electronic Systems represented 27% of total net sales, IS&GS represented 27% of total net sales, Aeronautics represented 27% of total net sales, Space Systems represented approximately 19% of our total net sales.
Shares Buybacks: Lockheed Martin's board of directors has approved a share repurchase program for the repurchase of up to 158 million shares of common stock from time-to-time, including 30 million shares authorized for repurchase by our Board of Directors in September 2008. As of March 29, 2009, LMT had repurchased a total of 132.4 million shares under the program, and there remained approximately 25.6 million shares that may be repurchased in the future.
Dividends: LMT currently pays out a quarterly dividend of $0.57 per share, which yields a solid 2.8% on an annual basis. In September 2008, LMT raised its dividend 36%. The quarterly dividend has been increased from $0.11 per share since 2003 - that's a 5 fold increase!
Revenue/Profit: Net Sales at Lockheed Martin have grown from $35.5 billion in 2004 to $42.7 billion in 2008. Operating profit in that time has more than doubled from $2.1 billion to $5.1 billion. Net earnings in that time has also more than doubled from $1.27 billion to $3.2 billion. Diluted EPS in that time has nearly tripled from $2.83 to $7.86.
Stock Performance: LMT is down 2.4% YTD, versus a 1% rise in the S&P 500. Over the last year, LMT is down 19% versus a 33% slide in the S&P 500. Over the last 5-years, LMT is up 61% versus a 20% slide in the S&P 500.
With billions in past share repurchases, an ever increasing dividend payout, strong revenue/earnings growth, and market-beating stock performance, LMT is "taking care of investors."
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