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.
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