Analysts Set Lockheed Martin Corporation (LMT) PT at $321.68
Lockheed Martin Corporation (NYSE:LMT) has received an average recommendation of “Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $321.68.
Several research firms have issued reports on LMT. Zacks Investment Research raised Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Credit Suisse Group reissued a “neutral” rating and set a $308.00 price target (up previously from $300.00) on shares of Lockheed Martin in a report on Wednesday, October 25th. Royal Bank of Canada cut their price target on Lockheed Martin from $327.00 to $316.00 and set a “sector perform” rating for the company in a report on Wednesday, October 25th. Stifel Nicolaus boosted their price objective on Lockheed Martin from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Cowen restated a “hold” rating and issued a $320.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 25th.
In related news, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $313.75, for a total value of $627,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel F. Akerson bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the transaction, the director now directly owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The disclosure for this purchase can be found here. 0.39% of the stock is currently owned by insiders.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. acquired a new position in shares of Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.94% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin (NYSE LMT) traded down $0.28 during trading hours on Thursday, reaching $315.89. The company’s stock had a trading volume of 1,082,368 shares, compared to its average volume of 1,031,885. Lockheed Martin has a twelve month low of $247.01 and a twelve month high of $322.19. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. The company has a market capitalization of $90,580.00, a price-to-earnings ratio of 24.83, a PEG ratio of 3.01 and a beta of 0.58.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The company had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $12.83 billion. During the same period in the prior year, the firm posted $3.61 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts anticipate that Lockheed Martin will post 13.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $2.00 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $1.82. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Saturday, September 30th. Lockheed Martin’s payout ratio is currently 64.88%.
Lockheed Martin announced that its board has approved a share repurchase program on Thursday, September 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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About Lockheed Martin
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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