Barclays PLC Upgrades Lockheed Martin Corp. (LMT) to Equal Weight
Lockheed Martin Corp. (NYSE:LMT) was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday. The firm presently has a $275.00 price objective on the stock, up from their previous price objective of $245.00. Barclays PLC’s target price would suggest a potential upside of 6.11% from the company’s previous close.
LMT has been the subject of several other reports. Citigroup Inc. reissued a “buy” rating on shares of Lockheed Martin Corp. in a research report on Wednesday, October 26th. Argus boosted their target price on shares of Lockheed Martin Corp. from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Deutsche Bank AG boosted their target price on shares of Lockheed Martin Corp. from $253.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, October 26th. Robert W. Baird assumed coverage on shares of Lockheed Martin Corp. in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $284.00 target price for the company. Finally, Zacks Investment Research raised shares of Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 target price for the company in a research report on Monday, July 18th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $264.28.
Lockheed Martin Corp. (NYSE:LMT) opened at 259.17 on Thursday. Lockheed Martin Corp. has a one year low of $200.47 and a one year high of $266.93. The firm’s 50-day moving average is $240.51 and its 200 day moving average is $244.39. The firm has a market capitalization of $75.93 billion, a price-to-earnings ratio of 15.16 and a beta of 0.65.
Lockheed Martin Corp. (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $3.61 EPS for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.75. Lockheed Martin Corp. had a net margin of 10.48% and a return on equity of 131.23%. The firm had revenue of $11.60 billion for the quarter, compared to the consensus estimate of $11.49 billion. During the same period in the previous year, the firm posted $2.76 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Analysts forecast that Lockheed Martin Corp. will post $12.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be issued a $1.82 dividend. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $7.28 annualized dividend and a dividend yield of 2.81%. Lockheed Martin Corp.’s dividend payout ratio is presently 39.19%.
Several large investors have recently bought and sold shares of LMT. Americafirst Capital Management LLC purchased a new stake in Lockheed Martin Corp. during the second quarter valued at $103,000. Arrow Financial Corp raised its stake in shares of Lockheed Martin Corp. by 3.5% in the second quarter. Arrow Financial Corp now owns 439 shares of the company’s stock worth $109,000 after buying an additional 15 shares in the last quarter. First Personal Financial Services raised its stake in shares of Lockheed Martin Corp. by 163.1% in the second quarter. First Personal Financial Services now owns 542 shares of the company’s stock worth $135,000 after buying an additional 336 shares in the last quarter. Signaturefd LLC raised its stake in shares of Lockheed Martin Corp. by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the company’s stock worth $135,000 after buying an additional 71 shares in the last quarter. Finally, Reilly Financial Advisors LLC raised its stake in shares of Lockheed Martin Corp. by 13.1% in the second quarter. Reilly Financial Advisors LLC now owns 588 shares of the company’s stock worth $146,000 after buying an additional 68 shares in the last quarter. 82.60% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Corp. Company Profile
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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