Lockheed Reports Strong 3Q Results, Provides a Positive Outlook; We Plan to Raise Our Fair Value
Wide-moat Lockheed Martin reported third-quarter 2016 earnings that handily beat consensus. Stronger-than-expected performance in aeronautics and a $0.34 nonrecurring capital gain due to the consolidation of the Atomics Weapons Establishment joint venture also led management to increase the outlook for full-year 2016 EPS to $12.10 from previous midpoint guidance of $11.30; we were forecasting $11.49 EPS for 2016. Management released better-than-expected preliminary 2017 guidance for 7% sales gro...Lockheed Martin is a security and aerospace company. The company has four segments: Aeronautics, which is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft; Missiles and Fire Control, which provides air and missile defense systems, logistics, fire control systems, and mission operations support; Rotary and Mission Systems, which provides design, manufacture, service and support for military and commercial helicopters, radar systems, and simulation and training services; Space, which researches, designs, develops, engineers and produces satellites, space transportation systems, and strategic, strike, and defensive systems.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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