Lockheed Martin (NYSE:LMT) had its price objective hoisted by Morgan Stanley from $356.00 to $376.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the aerospace company’s stock.
A number of other research firms have also recently weighed in on LMT. Robert W. Baird increased their price objective on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. DZ Bank reiterated a hold rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Bank of America reiterated a buy rating and issued a $400.00 target price (up previously from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Lockheed Martin from a hold rating to a buy rating and set a $373.00 target price for the company in a research report on Thursday, April 25th. Finally, Barclays increased their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an equal weight rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $367.86.
LMT stock opened at $377.00 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. Lockheed Martin has a fifty-two week low of $241.18 and a fifty-two week high of $381.51. The firm’s 50-day simple moving average is $366.95 and its 200 day simple moving average is $332.26. The stock has a market cap of $105.46 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.97.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The business had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter last year, the company earned $4.31 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin will post 21.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $2.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.33%. Lockheed Martin’s dividend payout ratio is presently 49.30%.
In other Lockheed Martin news, Director James D. Taiclet, Jr. acquired 1,354 shares of Lockheed Martin stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the transaction, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total transaction of $727,700.00. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock valued at $8,292,527 in the last quarter. 0.35% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of LMT. Advisors Preferred LLC bought a new position in shares of Lockheed Martin during the 1st quarter valued at about $26,000. Krane Funds Advisors LLC acquired a new position in shares of Lockheed Martin in the second quarter worth about $26,000. Heritage Wealth Advisors boosted its holdings in shares of Lockheed Martin by 304.3% in the first quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock worth $28,000 after buying an additional 70 shares during the period. Paragon Capital Management LLC boosted its holdings in shares of Lockheed Martin by 406.7% in the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after buying an additional 61 shares during the period. Finally, Ellis Investment Partners LLC acquired a new position in shares of Lockheed Martin in the first quarter worth about $29,000. Institutional investors own 78.55% of the company’s stock.
Lockheed Martin Company Profile
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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