After predicting that Lockheed Martin (NYSE:LMT) was on the verge of topping out back in July, the stock went into tailspin in August. Now the company offers updated capital return plans to warrant a second look at the defense stock.
The stock recently rallied to $247 after a dip to $235. The question is whether the data supports a return to previous highs of $260 and above.
Lockheed Martin authorized the purchase of an additional $2.0 billion worth of shares. Combined with the existing authorization, the company now has approval for $4.3 billion.
