WASHINGTON (Sputnik) — The Lockheed Martin Corporation board of directors has authorized the purchase of up to an additional $2.0 billion of its own common stock under its share repurchase program, the company said in a press release on Thursday.
"With this increase, the total remaining authorization for future repurchases under the share repurchase program is approximately $4.3 billion," Lockheed Martin stated.
The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.
According to Ledgers Gazette, Lockheed Martin has secured a consensus one-year price target of $263.38, above the opening price of $241.14, a difference of 10.80 percent.
Lockheed Martin stock has a 52-week high of $266.93, the Gazette noted.
