Vetr downgraded shares of Lockheed Martin Corporation (NYSE:LMT) from a strong-buy rating to a buy rating in a research note published on Monday. Vetr currently has $349.96 price objective on the aerospace company’s stock.
Several other analysts also recently commented on LMT. Zacks Investment Research raised 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. Credit Suisse Group AG reaffirmed a neutral rating and set a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Argus reissued a buy rating and issued a $320.00 price target (up previously 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. Stifel Nicolaus reissued a buy rating and issued a $320.00 price target (up previously from $300.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a hold rating on shares of Lockheed Martin Corporation in a research note on Thursday, July 20th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $322.13.
Shares of Lockheed Martin Corporation (NYSE LMT) traded up $1.78 during trading on Monday, reaching $312.95. The company had a trading volume of 702,800 shares, compared to its average volume of 1,036,443. The firm has a market cap of $89,960.00, a P/E ratio of 24.46, a PEG ratio of 2.97 and a beta of 0.58. Lockheed Martin Corporation has a twelve month low of $245.50 and a twelve month high of $322.19. 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 (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($0.02). The business 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 business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.61 EPS. equities research analysts predict that Lockheed Martin Corporation will post 13.09 EPS for the current fiscal year.
Lockheed Martin Corporation declared that its board has approved a share repurchase program on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $2.00 dividend. This is a boost from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend is Saturday, September 30th. This represents a $8.00 annualized dividend and a dividend yield of 2.56%. Lockheed Martin Corporation’s dividend payout ratio (DPR) is presently 59.04%.
In other Lockheed Martin Corporation news, Director Daniel F. Akerson purchased 2,500 shares of Lockheed Martin Corporation stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the acquisition, the director now owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. purchased a new stake in Lockheed Martin Corporation (NYSE:LMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.25% 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.
Receive News & Ratings for Lockheed Martin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.