Lockheed Martin (LMT) Sets New 1-Year Low at $277.20

Lockheed Martin Co. (NYSE:LMT)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $277.20 and last traded at $282.43, with a volume of 123167 shares. The stock had previously closed at $286.73.

LMT has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Barclays cut their price objective on shares of Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Finally, Credit Suisse Group cut their price objective on shares of Lockheed Martin from $368.00 to $357.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin has an average rating of “Buy” and an average target price of $373.13.

The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46. The firm has a market capitalization of $81.45 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.70 and a beta of 0.88.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.31 by $0.83. The company had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.24 EPS. On average, analysts anticipate that Lockheed Martin Co. will post 17.71 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a dividend of $2.20 per share. The ex-dividend date is Friday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 3.08%. Lockheed Martin’s dividend payout ratio is 66.02%.

Lockheed Martin announced that its board has approved a stock buyback plan on Thursday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the sale, the vice president now directly owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Lockheed Martin by 0.9% during the third quarter. Vanguard Group Inc. now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after purchasing an additional 199,456 shares during the last quarter. BlackRock Inc. lifted its holdings in Lockheed Martin by 0.8% during the third quarter. BlackRock Inc. now owns 17,385,055 shares of the aerospace company’s stock valued at $6,014,535,000 after purchasing an additional 136,348 shares during the last quarter. Morgan Stanley lifted its holdings in Lockheed Martin by 3.0% during the third quarter. Morgan Stanley now owns 3,587,085 shares of the aerospace company’s stock valued at $1,240,989,000 after purchasing an additional 105,749 shares during the last quarter. Capital International Investors increased its position in shares of Lockheed Martin by 47.7% during the third quarter. Capital International Investors now owns 3,465,642 shares of the aerospace company’s stock valued at $1,198,974,000 after buying an additional 1,119,631 shares during the period. Finally, FMR LLC increased its position in shares of Lockheed Martin by 13.7% during the third quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock valued at $919,205,000 after buying an additional 319,488 shares during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.

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About Lockheed Martin (NYSE:LMT)

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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