Lockheed Martin Co. (NYSE:LMT) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $400.87.
Several research firms recently issued reports on LMT. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 27th. Jefferies Financial Group reissued a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $370.20 price target (down previously from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Clean Yield Group bought a new position in shares of Lockheed Martin during the second quarter worth $25,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the second quarter worth $33,000. Sierra Capital LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth $36,000. Selective Wealth Management Inc. acquired a new stake in shares of Lockheed Martin during the second quarter worth $38,000. Finally, Cowa LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth $39,000. 74.51% of the stock is currently owned by institutional investors.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Sunday, July 25th. The aerospace company reported $6.52 EPS for the quarter, missing the Zacks’ consensus estimate of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The company had revenue of $17.03 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same period in the prior year, the company posted $5.79 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin will post 23.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Wednesday, September 1st will be given a dividend of $2.60 per share. The ex-dividend date is Tuesday, August 31st. This represents a $10.40 dividend on an annualized basis and a dividend yield of 3.02%. Lockheed Martin’s dividend payout ratio is 41.87%.
Lockheed Martin Company Profile
Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.
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