Lockheed Martin Corporation (LMT) Set to Announce Earnings on Tuesday
Lockheed Martin Corporation (NYSE:LMT) will release its earnings data before the market opens on Tuesday, October 24th. Analysts expect Lockheed Martin Corporation to post earnings of $3.27 per share for the quarter.
Lockheed Martin Corporation (LMT) opened at 320.00 on Friday. The company has a market capitalization of $92.16 billion, a P/E ratio of 18.57 and a beta of 0.59. The firm has a 50-day moving average price of $310.14 and a 200 day moving average price of $289.92. Lockheed Martin Corporation has a 52-week low of $230.92 and a 52-week high of $322.19.
Lockheed Martin Corporation announced that its Board of Directors has initiated a stock buyback program on Thursday, September 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $2.00 per share. The ex-dividend date is Saturday, September 30th. This represents a $8.00 annualized dividend and a yield of 2.50%. This is a positive change from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s payout ratio is 42.52%.
In other Lockheed Martin Corporation news, VP Brian P. Colan sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $107,166.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlando D. Carvalho sold 8,870 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $307.95, for a total value of $2,731,516.50. Following the transaction, the insider now directly owns 27,728 shares of the company’s stock, valued at approximately $8,538,837.60. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.
Several equities research analysts have issued reports on LMT shares. BidaskClub lowered Lockheed Martin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Morgan Stanley started coverage on Lockheed Martin Corporation in a research note on Tuesday, August 8th. They set an “overweight” rating and a $342.00 price target for the company. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Lockheed Martin Corporation in a research note on Thursday, July 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $240.00 price target on shares of Lockheed Martin Corporation in a research note on Friday, July 14th. Finally, Vetr raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $326.32 price target for the company in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $312.73.
About Lockheed Martin Corporation
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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