Stifel Nicolaus Increases Lockheed Martin Corporation (LMT) Price Target to $340.00

Lockheed Martin Corporation (NYSE:LMT) had its price objective boosted by Stifel Nicolaus from $320.00 to $340.00 in a research note published on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the aerospace company’s stock.

Several other research firms have also recently commented on LMT. BidaskClub cut Lockheed Martin Corporation from a buy rating to a hold rating in a report on Tuesday, June 27th. Morgan Stanley initiated coverage on Lockheed Martin Corporation in a report on Tuesday, August 8th. They issued an overweight rating and a $342.00 price target for the company. Royal Bank Of Canada reissued a hold rating on shares of Lockheed Martin Corporation in a report on Thursday, July 20th. Jefferies Group LLC reissued a hold rating and issued a $240.00 price target on shares of Lockheed Martin Corporation in a report on Friday, July 14th. Finally, Vetr raised Lockheed Martin Corporation from a hold rating to a buy rating and set a $326.32 price target for the company in a report on Tuesday, September 12th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $319.75.

Shares of Lockheed Martin Corporation (NYSE LMT) opened at 308.00 on Wednesday. Lockheed Martin Corporation has a 52-week low of $236.21 and a 52-week high of $322.19. The stock has a 50 day moving average price of $311.36 and a 200-day moving average price of $291.48. The stock has a market capitalization of $88.70 billion, a PE ratio of 17.87 and a beta of 0.59.

Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.61 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Corporation will post $13.00 EPS for the current fiscal year.

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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 given a dividend of $2.00 per share. This is an increase from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. The ex-dividend date is Saturday, September 30th. This represents a $8.00 annualized dividend and a yield of 2.60%. Lockheed Martin Corporation’s dividend payout ratio (DPR) is presently 58.57%.

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

In related news, Director Daniel F. Akerson purchased 2,500 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was bought at an average price of $312.02 per share, with a total value of $780,050.00. Following the completion of the transaction, the director now owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlando D. Carvalho sold 8,870 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $307.95, for a total value of $2,731,516.50. Following the transaction, the insider now directly owns 27,728 shares of the company’s stock, valued at approximately $8,538,837.60. The disclosure for this sale can be found here. Company insiders own 0.39% 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.

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