Lockheed Martin Corporation (NYSE:LMT) Director Daniel F. Akerson acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were bought at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the acquisition, the director now owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Lockheed Martin Corporation (LMT) opened at 308.00 on Monday. Lockheed Martin Corporation has a one year low of $236.21 and a one year high of $322.19. The stock has a market cap of $88.70 billion, a P/E ratio of 17.87 and a beta of 0.60. The firm has a 50 day moving average of $311.36 and a 200 day moving average of $291.48.
Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $12.83 billion. During the same quarter last year, the business posted $3.61 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Corporation will post $13.00 EPS for the current fiscal year.
Lockheed Martin Corporation declared that its board has authorized a stock buyback plan on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 2.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $2.00 per share. This is a positive change from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend is Saturday, September 30th. This represents a $8.00 annualized dividend and a dividend yield of 2.60%. Lockheed Martin Corporation’s dividend payout ratio (DPR) is 58.57%.
A number of analysts recently commented on LMT shares. Zacks Investment Research downgraded shares of Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. BidaskClub raised shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Deutsche Bank AG reissued a “buy” rating and set a $340.00 price objective (up previously from $305.00) on shares of Lockheed Martin Corporation in a report on Monday, October 2nd. Vetr raised shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $326.32 price objective on the stock in a report on Tuesday, September 12th. Finally, Morgan Stanley started coverage on shares of Lockheed Martin Corporation in a report on Tuesday, August 8th. They set an “overweight” rating and a $342.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin Corporation has an average rating of “Buy” and a consensus target price of $319.75.
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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