Lockheed Martin (NYSE:LMT) had its price objective upped by Argus from $340.00 to $385.00 in a research note issued to investors on Tuesday, February 6th, Marketbeat Ratings reports. Argus currently has a buy rating on the aerospace company’s stock.
A number of other brokerages have also recently commented on LMT. ValuEngine raised Lockheed Martin from a hold rating to a buy rating in a research note on Friday, February 2nd. Buckingham Research raised their price objective on Lockheed Martin from $348.00 to $403.00 and gave the company a buy rating in a research note on Monday, February 5th. Stifel Nicolaus raised their price objective on Lockheed Martin from $345.00 to $400.00 and gave the company a buy rating in a research note on Monday, January 29th. Royal Bank of Canada reissued a hold rating on shares of Lockheed Martin in a research note on Tuesday, January 30th. Finally, Jefferies Group reissued a hold rating and issued a $370.00 price objective on shares of Lockheed Martin in a research note on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Lockheed Martin currently has an average rating of Buy and a consensus target price of $372.53.
Lockheed Martin (LMT) traded up $2.61 during midday trading on Tuesday, reaching $348.42. The company had a trading volume of 261,771 shares, compared to its average volume of 1,612,922. Lockheed Martin has a fifty-two week low of $261.07 and a fifty-two week high of $361.79. The firm has a market capitalization of $99,160.00, a PE ratio of 52.75, a P/E/G ratio of 3.01 and a beta of 0.73. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of -22.19.
Lockheed Martin (NYSE:LMT) last released its earnings results on Monday, January 29th. The aerospace company reported $4.30 EPS for the quarter, topping the consensus estimate of $4.06 by $0.24. Lockheed Martin had a return on equity of 354.55% and a net margin of 3.92%. The business had revenue of $15.14 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter last year, the firm posted $3.25 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. sell-side analysts predict that Lockheed Martin will post 15.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 1st will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.30%. Lockheed Martin’s dividend payout ratio is presently 121.58%.
In other news, insider Richard F. Ambrose sold 7,517 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $357.89, for a total value of $2,690,259.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $346.74, for a total value of $6,588,060.00. Following the completion of the transaction, the chairman now owns 80,478 shares in the company, valued at approximately $27,904,941.72. The disclosure for this sale can be found here. Insiders sold 28,517 shares of company stock worth $9,905,819 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.07% of the stock is currently owned by hedge funds and other institutional investors.
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About Lockheed Martin
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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