Bank of America Corporation Reiterates $360.00 Price Target for Lockheed Martin Corporation (NYSE:LMT)

Bank of America Corporation set a $360.00 price objective on Lockheed Martin Corporation (NYSE:LMT) in a research report released on Friday, October 27th. The brokerage currently has a buy rating on the aerospace company’s stock.

A number of other equities analysts also recently weighed in on LMT. BidaskClub raised shares of Lockheed Martin Corporation from a hold rating to a buy rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded shares of Lockheed Martin Corporation from a hold rating to a sell rating in a research note on Tuesday, July 11th. Royal Bank of Canada reissued a hold rating and issued a $263.00 price objective on shares of Lockheed Martin Corporation in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a hold rating and issued a $240.00 price objective on shares of Lockheed Martin Corporation in a research report on Friday, July 14th. Finally, Credit Suisse Group reissued a neutral rating and issued a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Lockheed Martin Corporation presently has a consensus rating of Buy and an average target price of $322.73.

Shares of Lockheed Martin Corporation (NYSE:LMT) traded up $0.09 on Friday, hitting $311.17. 630,800 shares of the company traded hands, compared to its average volume of 1,037,973. 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 stock has a market capitalization of $89,197.28, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Lockheed Martin Corporation has a fifty-two week low of $245.50 and a fifty-two week high of $322.19.

Lockheed Martin Corporation (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.02). The firm had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. Lockheed Martin Corporation had a net margin of 7.31% and a return on equity of 221.41%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.61 EPS. equities research analysts expect that Lockheed Martin Corporation will post 13.09 earnings per share for the current fiscal year.

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Lockheed Martin Corporation declared that its board has initiated a share buyback program on Thursday, September 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a $2.00 dividend. This is an increase from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Saturday, September 30th. Lockheed Martin Corporation’s dividend payout ratio (DPR) is presently 58.57%.

In other Lockheed Martin Corporation news, Director Daniel F. Akerson purchased 2,500 shares of Lockheed Martin Corporation stock in a transaction dated Wednesday, October 25th. The shares were bought at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the transaction, the director now owns 7,432 shares in the company, valued at approximately $2,318,932.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Orlando D. Carvalho sold 8,870 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $307.95, for a total transaction of $2,731,516.50. Following the completion of the transaction, the insider now owns 27,728 shares in the company, valued at $8,538,837.60. The disclosure for this sale can be found here. Company 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 stake in Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Lockheed Martin Corporation (NYSE:LMT)

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