Several analysts have recently updated their ratings and price targets for Lockheed Martin (NYSE: LMT):
4/25/2019 – Lockheed Martin was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $373.00 price target on the stock. According to Zacks, “Lockheed Martin ended the first quarter of 2019 on an impressive note, wherein earnings and revenues surpassed the Zacks Consensus Estimate. Being the largest defense contractor in the world, the company enjoys a strong demand for its high-end military equipment in domestic as well as international markets. As a result, solid order growth has been a key catalyst to this company. F-35 continues to be a major revenue contributor for the company. Of late, the company is witnessing increased demand for its THAAD missiles from the Kingdom of Saudi Arabia (KSA). Favorable funding provisions made for Lockheed Martin’s products in the fiscal 2020 budget proposal should bode well for this stock’s growth. In a year’s time, its shares have outperformed its industry. However, the company’s higher debt-to-equity ratio reflects that the stock is highly leveraged when compared to its industry and thus bears higher chance of insolvency.”
4/24/2019 – Lockheed Martin had its price target raised by analysts at Robert W. Baird from $326.00 to $371.00. They now have an “outperform” rating on the stock.
4/24/2019 – Lockheed Martin was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
4/24/2019 – Lockheed Martin had its price target raised by analysts at UBS Group AG from $365.00 to $385.00. They now have a “buy” rating on the stock.
4/24/2019 – Lockheed Martin had its “buy” rating reaffirmed by analysts at Bank of America Corp. They now have a $400.00 price target on the stock, up previously from $390.00.
4/24/2019 – Lockheed Martin had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $360.00 price target on the stock.
Shares of NYSE LMT traded up $4.15 during midday trading on Thursday, reaching $338.33. 63,851 shares of the stock were exchanged, compared to its average volume of 1,229,651. The stock has a market capitalization of $93.92 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.32 and a beta of 1.04. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $351.35. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $12.48 billion. During the same quarter last year, the company earned $4.02 EPS. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $2.20 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 dividend on an annualized basis and a yield of 2.60%. Lockheed Martin’s dividend payout ratio is currently 49.30%.
In related news, Director David B. Burritt sold 2,100 shares of Lockheed Martin stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total value of $693,441.00. Following the sale, the director now owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 5,515 shares of Lockheed Martin stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $306.31, for a total transaction of $1,689,299.65. Following the sale, the senior vice president now directly owns 6,835 shares in the company, valued at approximately $2,093,628.85. The disclosure for this sale can be found here. Insiders sold a total of 72,949 shares of company stock worth $22,403,743 in the last three months. 0.35% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bremer Trust National Association acquired a new stake in Lockheed Martin during the 4th quarter worth $25,000. ERTS Wealth Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth $26,000. Lake Point Wealth Management purchased a new position in shares of Lockheed Martin during the 4th quarter worth $26,000. Advisors Preferred LLC purchased a new position in shares of Lockheed Martin during the 1st quarter worth $26,000. Finally, Heritage Wealth Advisors raised its holdings in shares of Lockheed Martin by 304.3% during the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 70 shares during the period. 78.30% of the stock is currently owned by institutional investors.
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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