Lockheed Martin (NYSE:LMT) had its target price boosted by UBS Group from $385.00 to $420.00 in a research note published on Wednesday morning, Stock Target Advisor reports. They currently have a buy rating on the aerospace company’s stock.
LMT has been the subject of a number of other research reports. Robert W. Baird decreased their target price on Waters from $211.00 to $209.00 and set a neutral rating for the company in a report on Wednesday, April 24th. Cowen reiterated an outperform rating and issued a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Bank of America reissued a buy rating and set a $60.00 price objective (up from $55.00) on shares of Western Digital in a research report on Wednesday, April 24th. Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the stock a hold rating in a report on Friday, June 14th. Finally, ValuEngine cut shares of Viewray from a buy rating to a hold rating in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $359.31.
Shares of NYSE:LMT opened at $369.45 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 5.00. The company’s 50-day moving average price is $354.72. The company has a market capitalization of $104.04 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 2.56 and a beta of 0.96. Lockheed Martin has a 12 month low of $241.18 and a 12 month high of $373.37.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The business had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same quarter in the prior year, the company posted $4.02 EPS. Lockheed Martin’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin will post 20.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $2.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.38%. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total transaction of $693,441.00. Following the completion of the transaction, the director now owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in LMT. PFG Advisors bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $886,000. EFG Asset Management Americas Corp. boosted its position in shares of Lockheed Martin by 70.7% in the 1st quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock worth $918,000 after purchasing an additional 1,267 shares in the last quarter. Cypress Capital Management LLC grew its stake in shares of Lockheed Martin by 9.4% in the 1st quarter. Cypress Capital Management LLC now owns 1,754 shares of the aerospace company’s stock worth $526,000 after buying an additional 150 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $107,000. Finally, United Asset Strategies Inc. increased its position in Lockheed Martin by 1.3% during the 1st quarter. United Asset Strategies Inc. now owns 4,943 shares of the aerospace company’s stock valued at $1,484,000 after buying an additional 62 shares in the last quarter. 77.97% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin Company Profile
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.
Read More: What does a hold rating mean?
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.