filings.toolsItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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At January 27, 2017, we had 28,697 holders of record of our common stock, par value $1 per share. Our common stock is traded on the New York Stock Exchange (NYSE) under the symbol LMT. Information concerning the high and low reported sales prices of Lockheed Martin common stock and dividends paid during the past two years is as follows:
Common Stock – Dividends Paid Per Share and Market Prices
| Dividends Paid Per Share | Stock Prices (High-Low) | |||||||||||||||
| Quarter | 2016 | 2015 | 2016 | 2015 | ||||||||||||
| First | $1.65 | $1.50 | $223.19 - $200.47 | $ | 207.06 - $186.01 | |||||||||||
| Second | 1.65 | 1.50 | 245.37 - 218.34 | 206.19 - 185.65 | ||||||||||||
| Third | 1.65 | 1.50 | 266.93 - 235.28 | 213.34 - 181.91 | ||||||||||||
| Fourth | 1.82 | 1.65 | 269.90 - 228.50 | 227.91 - 199.01 | ||||||||||||
| Year | $6.77 | $6.15 | $269.90 - $200.47 | $ | 227.91 - $181.91 |
Stockholder Return Performance Graph
The following graph compares the total return on a cumulative basis of $100 invested in Lockheed Martin common stock on December 31, 2011 to the Standard and Poor’s (S&P) 500 Index and the S&P Aerospace & Defense (S&P Aero) Index.
The S&P Aero Index comprises Arconic Inc., General Dynamics Corporation, L3 Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Rockwell Collins, Inc., Textron Inc., The Boeing Company, Transdigm Group Inc., and United Technologies Corporation. The stockholder return performance indicated on the graph is not a guarantee of future performance.
This graph is not deemed to be “filed” with the U.S. Securities and Exchange Commission or subject to the liabilities of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act), and should not be deemed to be incorporated by reference into any of our prior or subsequent filings under the Securities Act of 1933 or the Exchange Act.
Table of Contents
Purchases of Equity Securities
The following table provides information about our repurchases of our common stock registered pursuant to Section 12 of the Exchange Act during the quarter ended December 31, 2016.
| Period (a) | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (b) | Amount Available for Future Share Repurchases Under the Plans or Programs (b) | ||||||
| (in millions) | ||||||||||
| September 26, 2016 – October 30, 2016 | 1,294,018 | $235.56 | 1,293,734 | $4,015 | ||||||
| October 31, 2016 – November 27, 2016 | 712,100 | $254.42 | 711,974 | $3,834 | ||||||
| November 28, 2016 – December 31, 2016 | 1,281,651 | $259.81 | 1,270,668 | $3,504 | ||||||
| Total | 3,287,769(c) | $249.09 | 3,276,376 |
| (a) | We close our books and records on the last Sunday of each month to align our financial closing with our business processes, except for the month of December, as our fiscal year ends on December 31. As a result, our fiscal months often differ from the calendar months. For example, September 26, 2016 was the first day of our October 2016 fiscal month. |
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| (b) | In October 2010, our Board of Directors approved a share repurchase program pursuant to which we are authorized to repurchase our common stock in privately negotiated transactions or in the open market at prices per share not exceeding the then-current market prices. On September 22, 2016, our Board of Directors authorized a $2.0 billion increase to the program. Under the program, management has discretion to determine the dollar amount of shares to be repurchased and the timing of any repurchases in compliance with applicable law and regulation. This includes purchases pursuant to Rule 10b5-1 plans. The program does not have an expiration date. |
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| (c) | During the quarter ended December 31, 2016, the total number of shares purchased included 11,393 shares that were transferred to us by employees in satisfaction of minimum tax withholding obligations associated with the vesting of restricted stock units. These purchases were made pursuant to a separate authorization by our Board of Directors and are not included within the program. |
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Table of Contents
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