RBC Capital Increases Lockheed Martin Corp. Price Target to $133.00 (LMT)
RBC Capital boosted their price objective on shares of Lockheed Martin Corp. (NYSE:LMT) from $126.00 to $133.00 in a research note issued on Friday, Analyst Ratings.Net reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price indicates a potential upside of 2.91% from the stock’s previous close.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.47% during mid-day trading on Friday, hitting $129.24. The stock had a trading volume of 1,312,647 shares. Lockheed Martin Corp. has a 52 week low of $85.88 and a 52 week high of $131.60. The stock’s 50-day moving average is $125.2 and its 200-day moving average is $109.6. The company has a market cap of $41.228 billion and a price-to-earnings ratio of 14.56.
Lockheed Martin Corp. (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The company reported $2.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.20 by $0.44. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.12 billion. During the same quarter last year, the company posted $2.38 earnings per share. Lockheed Martin Corp.’s revenue was down 4.3% compared to the same quarter last year. Analysts expect that Lockheed Martin Corp. will post $9.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.15.
A number of other analysts have also recently weighed in on LMT. Analysts at Zacks reiterated a “neutral” rating on shares of Lockheed Martin Corp. (NYSE:LMT) in a research note to investors on Thursday, September 5th. They now have a $130.00 price target on the stock. Separately, analysts at UBS AG downgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a “neutral” rating to a “sell” rating in a research note to investors on Friday, August 16th. They now have a $113.00 price target on the stock, up previously from $101.00. Finally, analysts at Barclays Capital raised their price target on shares of Lockheed Martin Corp. (NYSE:LMT) from $95.00 to $125.00 in a research note to investors on Monday, August 12th. They now have an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin Corp. has an average rating of “Hold” and a consensus price target of $122.86.
Lockheed Martin Corporation, incorporated on August 29, 1994, is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.
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