Cowen and Company reaffirmed their hold rating on shares of Lockheed Martin Corporation (NYSE:LMT) in a research report report published on Wednesday morning. They currently have a $320.00 target price on the aerospace company’s stock.
A number of other research analysts also recently commented on LMT. BidaskClub downgraded shares of Lockheed Martin Corporation from a buy rating to a hold rating in a research report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Lockheed Martin Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a hold rating and issued a $263.00 price objective on shares of Lockheed Martin Corporation in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a hold rating and issued a $240.00 price objective on shares of Lockheed Martin Corporation in a research report on Friday, July 14th. Finally, Credit Suisse Group reissued a neutral rating and issued a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $319.75.
Lockheed Martin Corporation (LMT) traded up 0.04% on Wednesday, reaching $308.00. 998,712 shares of the company’s stock were exchanged. The firm has a market cap of $88.70 billion, a PE ratio of 17.87 and a beta of 0.59. Lockheed Martin Corporation has a 12 month low of $236.21 and a 12 month high of $322.19. The firm’s 50-day moving average is $311.36 and its 200-day moving average is $291.48.
Lockheed Martin Corporation (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.02). Lockheed Martin Corporation had a net margin of 7.31% and a return on equity of 221.41%. The firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. During the same period last year, the business earned $3.61 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Corporation will post $13.00 earnings per share for the current year.
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Lockheed Martin Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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 paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Saturday, September 30th. This is a boost from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s dividend payout ratio (DPR) is currently 58.57%.
In other Lockheed Martin Corporation news, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel F. Akerson acquired 2,500 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $312.02 per share, with a total value of $780,050.00. Following the purchase, the director now directly owns 7,432 shares in the company, valued at $2,318,932.64. The disclosure for this purchase can be found here. 0.39% of the stock is owned by insiders.
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.
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