Lockheed Martin Corporation (NYSE:LMT) has received an average recommendation of “Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $321.68.
LMT has been the subject of several recent research reports. Zacks Investment Research cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Royal Bank Of Canada set a $314.00 price objective on shares of Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, November 15th. Credit Suisse Group restated a “neutral” rating and issued a $308.00 price objective (up previously from $300.00) on shares of Lockheed Martin in a research report on Wednesday, October 25th. Deutsche Bank restated a “buy” rating and issued a $340.00 price objective (up previously from $305.00) on shares of Lockheed Martin in a research report on Monday, October 2nd. Finally, Vetr upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $326.32 price objective for the company in a research report on Tuesday, September 12th.
In other news, Director Daniel F. Akerson bought 2,500 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average cost of $312.02 per share, with a total value of $780,050.00. Following the acquisition, the director now owns 7,432 shares in the company, valued at $2,318,932.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dale P. Bennett sold 2,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $313.75, for a total transaction of $627,500.00. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Lockheed Martin (NYSE LMT) traded up $1.83 during mid-day trading on Thursday, reaching $311.97. 824,700 shares of the company traded hands, compared to its average volume of 1,033,814. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. Lockheed Martin has a 1 year low of $245.50 and a 1 year high of $322.19. The company has a market cap of $88,927.76, a PE ratio of 24.38, a PEG ratio of 2.96 and a beta of 0.58.
Lockheed Martin (NYSE:LMT) last issued its 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 for the quarter, compared to the consensus estimate of $12.83 billion. Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 EPS. equities research analysts anticipate that Lockheed Martin will post 13.12 earnings per share for the current year.
Lockheed Martin declared that its board has approved a share buyback program on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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 paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Lockheed Martin’s previous quarterly dividend of $1.82. The ex-dividend date is Saturday, September 30th. Lockheed Martin’s dividend payout ratio is currently 64.36%.
About Lockheed Martin
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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