Lockheed Martin Corporation (NYSE:LMT) has been assigned a consensus rating of “Buy” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $322.57.
A number of equities analysts recently weighed in on LMT shares. Bank of America Corporation set a $360.00 target price on shares of Lockheed Martin Corporation and gave the stock a “buy” rating in a report on Friday, October 27th. Buckingham Research upped their price objective on shares of Lockheed Martin Corporation from $316.00 to $348.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research downgraded shares of Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Stifel Nicolaus upped their price objective on shares of Lockheed Martin Corporation from $320.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada decreased their price objective on shares of Lockheed Martin Corporation from $327.00 to $316.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 25th.
In related news, insider Orlando D. Carvalho sold 8,870 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $307.95, for a total transaction of $2,731,516.50. Following the completion of the sale, the insider now owns 27,728 shares of the company’s stock, valued at $8,538,837.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel F. Akerson acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were purchased at an average cost of $312.02 per share, with a total value of $780,050.00. Following the transaction, the director now directly owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The disclosure for this purchase can be found here. 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. bought a new position in Lockheed Martin Corporation (NYSE:LMT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.35% of the stock is owned by institutional investors and hedge funds.
Shares of Lockheed Martin Corporation (NYSE:LMT) traded up $0.09 on Friday, reaching $311.17. 630,800 shares of the company were exchanged, compared to its average volume of 1,044,158. The firm has a market capitalization of $89,223.02, 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. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32.
Lockheed Martin Corporation (NYSE:LMT) last issued its earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share 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%. Lockheed Martin Corporation’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 earnings per share. analysts predict that Lockheed Martin Corporation will post 13.09 earnings per share for the current year.
The firm also recently announced 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 represents a $8.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Saturday, September 30th. This is a boost from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s payout ratio is presently 58.57%.
Lockheed Martin Corporation announced that its Board of Directors has initiated a share buyback plan on Thursday, September 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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.