Shares of Lockheed Martin (LMT) - Get Report were gently higher in after-hours trade on Thursday after the Bethesda, Md., aerospace and defense giant added $1 billion to its planned share buyback.

Management is now authorized to buy back as much as $3.3 billion of shares, if and when it sees fit. At June 30, Lockheed Martin had about 284 million shares outstanding.

The shares were trading up 0.2% after hours. They closed the regular session up 0.6% at $392.92.

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