Lockheed Martin Corp. (LMT) Coverage Initiated at Robert W. Baird
Equities research analysts at Robert W. Baird started coverage on shares of Lockheed Martin Corp. (NYSE:LMT) in a report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the stock.
Other research analysts have also recently issued reports about the company. Argus reissued a “buy” rating and issued a $290.00 price target on shares of Lockheed Martin Corp. in a report on Friday, August 5th. Zacks Investment Research raised Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $279.00 price target on the stock in a report on Tuesday, July 5th. Drexel Hamilton reissued a “buy” rating and issued a $284.00 price target on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Citigroup Inc. reissued a “buy” rating and issued a $284.00 price target (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Finally, Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price target on the stock. in a report on Monday, July 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $258.43.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.21% during mid-day trading on Wednesday, hitting $236.60. The stock had a trading volume of 1,170,067 shares. Lockheed Martin Corp. has a 12 month low of $200.47 and a 12 month high of $266.93. The stock’s 50-day moving average price is $244.26 and its 200-day moving average price is $241.66. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 19.70 and a beta of 0.59.
Lockheed Martin Corp. (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping the Zacks’ consensus estimate of $2.93 by $0.39. Lockheed Martin Corp. had a return on equity of 119.66% and a net margin of 7.37%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.56 billion. During the same period in the previous year, the firm earned $2.94 EPS. On average, analysts predict that Lockheed Martin Corp. will post $11.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, November 29th. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s dividend payout ratio is 56.51%.
In other Lockheed Martin Corp. news, insider Sondra L. Barbour sold 66,460 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $7,979,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the completion of the transaction, the insider now directly owns 29,120 shares in the company, valued at approximately $7,419,193.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new stake in Lockheed Martin Corp. during the second quarter worth $103,000. Arrow Financial Corp boosted its stake in Lockheed Martin Corp. by 3.5% in the second quarter. Arrow Financial Corp now owns 439 shares of the company’s stock worth $109,000 after buying an additional 15 shares during the period. Signaturefd LLC boosted its stake in Lockheed Martin Corp. by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the company’s stock worth $135,000 after buying an additional 71 shares during the period. First Personal Financial Services boosted its stake in Lockheed Martin Corp. by 163.1% in the second quarter. First Personal Financial Services now owns 542 shares of the company’s stock worth $135,000 after buying an additional 336 shares during the period. Finally, Reilly Financial Advisors LLC boosted its stake in Lockheed Martin Corp. by 13.1% in the second quarter. Reilly Financial Advisors LLC now owns 588 shares of the company’s stock worth $146,000 after buying an additional 68 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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