Lockheed Martin (LMT) Hits New 1-Year Low at $277.20

Lockheed Martin Co. (NYSE:LMT)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $277.20 and last traded at $282.43, with a volume of 123167 shares changing hands. The stock had previously closed at $286.73.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 12th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. UBS Group began coverage on shares of Lockheed Martin in a research note on Wednesday, August 15th. They issued a “buy” rating and a $400.00 price target on the stock. Credit Suisse Group raised their price target on shares of Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Finally, Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the company a “buy” rating in a research note on Thursday, October 11th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus price target of $373.13.

The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. The stock has a market capitalization of $81.45 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.70 and a beta of 0.88.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The business had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same period last year, the company earned $3.24 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Co. will post 17.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be given a dividend of $2.20 per share. The ex-dividend date is Friday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 3.08%. Lockheed Martin’s dividend payout ratio (DPR) is currently 66.02%.

Lockheed Martin announced that its board has approved a stock repurchase program on Thursday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the sale, the vice president now directly owns 79,770 shares in the company, valued at approximately $24,608,247.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in LMT. Cornerstone Wealth Management LLC bought a new position in Lockheed Martin during the 2nd quarter worth approximately $306,000. Smith Asset Management Group LP raised its holdings in Lockheed Martin by 3.7% during the 2nd quarter. Smith Asset Management Group LP now owns 27,406 shares of the aerospace company’s stock worth $8,097,000 after purchasing an additional 970 shares during the last quarter. Cognios Capital LLC raised its holdings in Lockheed Martin by 4.0% during the 2nd quarter. Cognios Capital LLC now owns 7,512 shares of the aerospace company’s stock worth $2,218,000 after purchasing an additional 288 shares during the last quarter. Alps Advisors Inc. raised its holdings in Lockheed Martin by 554.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,882 shares of the aerospace company’s stock worth $1,738,000 after purchasing an additional 4,983 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Lockheed Martin by 1.1% during the 2nd quarter. Sei Investments Co. now owns 93,637 shares of the aerospace company’s stock worth $27,663,000 after purchasing an additional 983 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.

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About Lockheed Martin (NYSE:LMT)

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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