Barclays restated their hold rating on shares of Lockheed Martin (NYSE:LMT) in a report published on Wednesday, AnalystRatings.com reports. The firm currently has a $410.00 price objective on the aerospace company’s stock.
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $360.00 to $395.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Lockheed Martin from $356.00 to $376.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. DZ Bank restated a hold rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Credit Suisse Group raised their price objective on Lockheed Martin from $369.00 to $379.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Finally, UBS Group raised their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lockheed Martin currently has an average rating of Buy and a consensus price target of $372.64.
LMT stock traded down $5.41 during trading on Wednesday, reaching $381.47. The company’s stock had a trading volume of 1,220,629 shares, compared to its average volume of 1,106,083. Lockheed Martin has a 1 year low of $241.18 and a 1 year high of $399.96. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The company has a market capitalization of $109.25 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.57 and a beta of 0.96. The company’s fifty day moving average is $385.55 and its 200-day moving average is $354.71.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the prior year, the business posted $4.31 EPS. Lockheed Martin’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts anticipate that Lockheed Martin will post 21.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.52%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.
In related news, Chairman Marillyn A. Hewson sold 19,500 shares of Lockheed Martin stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the transaction, the chairman now owns 46,534 shares in the company, valued at $17,177,560.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kenneth R. Possenriede sold 2,000 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,503 shares of company stock valued at $8,292,527. Company insiders own 0.35% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Cornerstone Advisors Inc. grew its position in Lockheed Martin by 44.1% in the first quarter. Cornerstone Advisors Inc. now owns 160 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 49 shares in the last quarter. Resource Management LLC purchased a new position in Lockheed Martin in the first quarter worth about $201,000. Baker Ellis Asset Management LLC purchased a new position in Lockheed Martin in the first quarter worth about $228,000. AlphaMark Advisors LLC grew its position in Lockheed Martin by 10.1% in the first quarter. AlphaMark Advisors LLC now owns 951 shares of the aerospace company’s stock worth $285,000 after acquiring an additional 87 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in Lockheed Martin by 56.9% in the first quarter. FinTrust Capital Advisors LLC now owns 764 shares of the aerospace company’s stock worth $230,000 after acquiring an additional 277 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.
About Lockheed Martin
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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