Cowen and Company reaffirmed their hold rating on shares of Lockheed Martin Corporation (NYSE:LMT) in a research report sent to investors on Wednesday, October 25th. The brokerage currently has a $320.00 price objective on the aerospace company’s stock.
Several other equities research analysts have also commented on the stock. Royal Bank of Canada reiterated a hold rating and set a $263.00 price target on shares of Lockheed Martin Corporation in a research note on Wednesday, July 12th. Credit Suisse Group restated a neutral rating and issued a $300.00 price objective (up from $280.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Lockheed Martin Corporation from a sell rating to a hold rating and set a $323.00 price objective on the stock in a research note on Monday, July 17th. Argus reiterated a buy rating and set a $320.00 price target (up from $100.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Lockheed Martin Corporation from a hold rating to a buy rating in a research note on Saturday, August 12th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $322.73.
Shares of Lockheed Martin Corporation (NYSE:LMT) traded up $0.09 during trading on Wednesday, reaching $311.17. 630,800 shares of the company were exchanged, compared to its average volume of 1,037,973. The stock has a market cap of $89,197.28, a price-to-earnings ratio of 24.46, a PEG ratio of 2.97 and a beta of 0.58. The company has a debt-to-equity ratio of 6.56, a current ratio of 1.32 and a quick ratio of 0.95. Lockheed Martin Corporation has a 1 year low of $245.50 and a 1 year high of $322.19.
Lockheed Martin Corporation (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). The firm had revenue of $12.17 billion for the quarter, compared to analyst estimates of $12.83 billion. Lockheed Martin Corporation had a return on equity of 221.41% and a net margin of 7.31%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 EPS. equities analysts anticipate that Lockheed Martin Corporation will post 13.09 EPS for the current fiscal year.
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Lockheed Martin Corporation declared that its board has approved a share buyback plan on Thursday, September 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed 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. This represents a $8.00 dividend on an annualized basis and a yield of 2.57%. This is an increase from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend is Saturday, September 30th. Lockheed Martin Corporation’s dividend payout ratio is 58.57%.
In other news, Director Daniel F. Akerson acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $312.02 per share, with a total value of $780,050.00. Following the acquisition, the director now directly owns 7,432 shares in the company, valued at $2,318,932.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian P. Colan sold 350 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $107,166.50. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
A hedge fund recently bought a new stake in Lockheed Martin Corporation stock. Buckingham Capital Management Inc. acquired a new position in Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.35% of the stock is owned by institutional investors.
Lockheed Martin Corporation Company Profile
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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