Lockheed Martin (NYSE:LMT) Price Target Raised to $450.00 at Buckingham Research

Share on StockTwits

Lockheed Martin (NYSE:LMT) had its price target hoisted by Buckingham Research from $405.00 to $450.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a buy rating on the aerospace company’s stock. The analysts noted that the move was a valuation call.

A number of other research firms have also weighed in on LMT. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $395.00 to $360.00 and set a neutral rating on the stock in a report on Wednesday, October 23rd. Credit Suisse Group lowered their target price on shares of Lockheed Martin from $401.00 to $385.00 and set a neutral rating on the stock in a report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a research note on Wednesday, July 10th. DZ Bank reiterated a hold rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Finally, Barclays reiterated a hold rating and issued a $410.00 price objective on shares of Lockheed Martin in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $371.79.

Shares of LMT traded up $3.11 on Thursday, reaching $381.86. The company’s stock had a trading volume of 772,430 shares, compared to its average volume of 1,168,903. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. Lockheed Martin has a twelve month low of $241.18 and a twelve month high of $399.96. The stock has a market capitalization of $105.39 billion, a PE ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95. The firm has a fifty day moving average of $380.57 and a 200-day moving average of $364.83.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The company had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same quarter in the prior year, the business posted $5.14 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin will post 21.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $2.40 dividend. 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 annualized dividend and a yield of 2.51%. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.

Lockheed Martin announced that its board has approved a stock buyback plan on Thursday, September 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. raised its position in shares of Lockheed Martin by 360.8% during the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after buying an additional 2,047,707 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at about $652,536,000. Thoroughbred Financial Services LLC increased its position in shares of Lockheed Martin by 38,923.0% in the second quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after acquiring an additional 1,337,784 shares during the period. Suvretta Capital Management LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at about $233,473,000. Finally, Prudential Financial Inc. increased its position in shares of Lockheed Martin by 55.3% in the second quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock valued at $284,699,000 after acquiring an additional 278,709 shares during the period. Hedge funds and other institutional investors own 78.57% of the company’s stock.

Lockheed Martin Company Profile

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.

Further Reading: Why is Cost of Capital Important?

The Fly

Analyst Recommendations for Lockheed Martin (NYSE:LMT)

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Fossil Group  Downgraded by TheStreet to “D”
Fossil Group Downgraded by TheStreet to “D”
Lockheed Martin  Price Target Raised to $450.00 at Buckingham Research
Lockheed Martin Price Target Raised to $450.00 at Buckingham Research
Oxford Immunotec Global  Upgraded at Zacks Investment Research
Oxford Immunotec Global Upgraded at Zacks Investment Research
Century Aluminum  Lifted to “Buy” at BidaskClub
Century Aluminum Lifted to “Buy” at BidaskClub
$986.13 Million in Sales Expected for Sally Beauty Holdings, Inc.  This Quarter
$986.13 Million in Sales Expected for Sally Beauty Holdings, Inc. This Quarter
-$0.06 Earnings Per Share Expected for Casa Systems Inc  This Quarter
-$0.06 Earnings Per Share Expected for Casa Systems Inc This Quarter


 
© 2006-2019 Zolmax.