Lockheed Martin Corporation (LMT) Earns Hold Rating from Cowen and Company

Cowen and Company reaffirmed their hold rating on shares of Lockheed Martin Corporation (NYSE:LMT) in a research report report published on Wednesday, October 25th. The brokerage currently has a $320.00 price objective on the aerospace company’s stock.

Several other brokerages have also recently weighed in on LMT. BidaskClub cut Lockheed Martin Corporation from a buy rating to a hold rating in a research note on Tuesday, June 27th. Credit Suisse Group reaffirmed a neutral rating and set a $308.00 target price (up previously from $300.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, October 25th. Morgan Stanley assumed coverage on Lockheed Martin Corporation in a research note on Tuesday, August 8th. They set an overweight rating and a $342.00 target price for the company. Stifel Nicolaus raised their target price on Lockheed Martin Corporation from $320.00 to $340.00 and gave the stock a buy rating in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada reaffirmed a hold rating on shares of Lockheed Martin Corporation in a research note on Thursday, July 20th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin Corporation has a consensus rating of Buy and an average target price of $322.73.

Shares of Lockheed Martin Corporation (LMT) opened at $311.17 on Wednesday. The firm has a market capitalization of $89,223.02, a PE ratio of 24.46, a PEG ratio of 2.97 and a beta of 0.58. 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 has a one year low of $245.50 and a one year high of $322.19.

Lockheed Martin Corporation (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.02). The company had revenue of $12.17 billion during the quarter, compared to analyst estimates of $12.83 billion. Lockheed Martin Corporation had a net margin of 7.31% and a return on equity of 221.41%. The company’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. sell-side analysts expect that Lockheed Martin Corporation will post 13.09 EPS for the current year.

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The business also recently announced 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 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. This is a positive change from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s dividend payout ratio (DPR) is currently 58.57%.

Lockheed Martin Corporation declared that its board has authorized a share buyback plan on Thursday, September 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, VP Brian P. Colan sold 350 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $107,166.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel F. Akerson bought 2,500 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was purchased at an average cost of $312.02 per share, with a total value of $780,050.00. Following the completion of 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. 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 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.

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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