Lockheed Martin Corporation (LMT) Given Consensus Recommendation of “Buy” by Brokerages
Lockheed Martin Corporation (NYSE:LMT) has been given an average rating of “Buy” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $311.86.
Several brokerages recently commented on LMT. Royal Bank Of Canada restated a “hold” rating and set a $263.00 target price on shares of Lockheed Martin Corporation in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Lockheed Martin Corporation from a “sell” rating to a “hold” rating and set a $323.00 target price for the company in a report on Monday, July 17th. Credit Suisse Group restated a “neutral” rating and set a $300.00 target price (up previously from $280.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Argus restated a “buy” rating and set a $320.00 target price (up previously from $100.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Buckingham Research increased their target price on shares of Lockheed Martin Corporation from $316.00 to $348.00 and gave the stock a “buy” rating in a report on Thursday, October 5th.
In other news, insider Orlando D. Carvalho sold 8,870 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $307.95, for a total transaction of $2,731,516.50. Following the completion of the sale, the insider now owns 27,728 shares in the company, valued at approximately $8,538,837.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian P. Colan sold 350 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $107,166.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,220 shares of company stock valued at $5,739,783. 0.39% of the stock is currently owned by corporate insiders.
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Lockheed Martin Corporation (NYSE:LMT) traded down 0.7057% during midday trading on Wednesday, hitting $316.0241. 655,519 shares of the company traded hands. The stock’s 50-day moving average is $308.50 and its 200-day moving average is $288.44. The firm has a market capitalization of $91.01 billion, a PE ratio of 18.3362 and a beta of 0.59. Lockheed Martin Corporation has a 12-month low of $228.50 and a 12-month high of $322.19.
Lockheed Martin Corporation (NYSE:LMT) last announced its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The business had revenue of $12.69 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the prior year, the company posted $3.32 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Lockheed Martin Corporation will post $12.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $2.00 dividend. The ex-dividend date of this dividend is Saturday, September 30th. This represents a $8.00 dividend on an annualized basis and a yield of 2.51%. 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 42.52%.
Lockheed Martin Corporation announced that its board has initiated a share 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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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