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July 14, 2020, 4:18 a.m. EDT

China to sanction Lockheed Martin over Taiwan sales: reports

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By Steve Goldstein

LMT

China on Tuesday said it would sanction Lockheed Martin /zigman2/quotes/200691238/composite LMT +1.55% over U.S. sales of surface-to-air missiles to Taiwan, both Bloomberg and Reuters reported, citing comments from a foreign ministry spokesperson. The U.S. State Department last week approved a $620 million upgrade package. The word "China" wasn't in Lockheed Martin's annual report, but FactSet Research estimates the country represented 2% of revenue.

/zigman2/quotes/200691238/composite
US : U.S.: NYSE
$ 385.62
+5.88 +1.55%
Volume: 924,890
Aug. 7, 2020 4:04p
P/E Ratio
16.90
Dividend Yield
2.49%
Market Cap
$107.80 billion
Rev. per Employee
$512,019
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