Royal Bank Of Canada set a $314.00 price target on Lockheed Martin Corporation (NYSE:LMT) in a research note issued to investors on Wednesday. The firm currently has a hold rating on the aerospace company’s stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Lockheed Martin Corporation from a hold rating to a buy rating and set a $325.00 target price on the stock in a report on Thursday, July 27th. Credit Suisse Group reiterated a neutral rating and issued a $300.00 target price (up previously from $280.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Argus reiterated a buy rating and issued a $320.00 target price (up previously from $100.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub upgraded Lockheed Martin Corporation from a hold rating to a buy rating in a report on Saturday, August 12th. Finally, Cowen and Company reiterated a hold rating and issued a $310.00 target price (up previously from $295.00) on shares of Lockheed Martin Corporation in a report on Thursday, September 14th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $322.00.
Shares of Lockheed Martin Corporation (NYSE LMT) traded down $3.10 on Wednesday, hitting $310.64. The stock had a trading volume of 754,800 shares, compared to its average volume of 1,033,219. The firm has a market cap of $89,400.00, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.58. Lockheed Martin Corporation has a one year low of $245.50 and a one year high of $322.19. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56.
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 analysts’ consensus estimates of $3.26 by ($0.02). The business 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%. Lockheed Martin Corporation’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 EPS. equities analysts predict that Lockheed Martin Corporation will post 13.12 earnings per share for the current year.
Lockheed Martin Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.58%. The ex-dividend date is Saturday, September 30th. This is an increase from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s dividend payout ratio (DPR) is 59.04%.
In related news, Director Daniel F. Akerson purchased 2,500 shares of the stock in a transaction on Wednesday, October 25th. The shares were bought 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 directly owns 7,432 shares in the company, valued at approximately $2,318,932.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.
An institutional investor recently bought a new position in Lockheed Martin Corporation stock. Buckingham Capital Management Inc. acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors and hedge funds own 79.25% of the company’s stock.
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.
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