Lockheed Martin Corp. (LMT) Raised to Buy at Stifel Nicolaus
Stifel Nicolaus upgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a hold rating to a buy rating in a research note released on Monday. They currently have $290.00 price objective on the stock, up from their previous price objective of $260.00.
A number of other analysts have also weighed in on LMT. Vertical Group reissued a hold rating on shares of Lockheed Martin Corp. in a research note on Monday, October 31st. Barclays PLC raised Lockheed Martin Corp. from an underweight rating to an equal weight rating and increased their price objective for the company from $245.00 to $275.00 in a research note on Thursday, November 10th. Drexel Hamilton reissued a buy rating and set a $284.00 price objective on shares of Lockheed Martin Corp. in a research note on Wednesday, July 20th. Vetr lowered Lockheed Martin Corp. from a buy rating to a hold rating and set a $253.86 price objective for the company. in a research note on Wednesday, November 9th. Finally, Jefferies Group reissued a hold rating on shares of Lockheed Martin Corp. in a research note on Wednesday, August 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $264.81.
Shares of Lockheed Martin Corp. (NYSE:LMT) opened at 263.35 on Monday. The firm’s 50-day moving average is $242.16 and its 200-day moving average is $245.18. Lockheed Martin Corp. has a 52 week low of $200.47 and a 52 week high of $269.74. The company has a market cap of $77.16 billion, a price-to-earnings ratio of 15.40 and a beta of 0.65.
Lockheed Martin Corp. (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 25th. The company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.75. The firm earned $11.60 billion during the quarter, compared to analyst estimates of $11.49 billion. Lockheed Martin Corp. had a return on equity of 131.23% and a net margin of 10.48%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 earnings per share. Equities research analysts predict that Lockheed Martin Corp. will post $12.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be issued a $1.82 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. This represents a $7.28 dividend on an annualized basis and a yield of 2.76%. Lockheed Martin Corp.’s payout ratio is currently 39.19%.
A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. Fulton Bank N.A. boosted its position in Lockheed Martin Corp. by 10.4% in the second quarter. Fulton Bank N.A. now owns 6,812 shares of the company’s stock worth $1,691,000 after buying an additional 640 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Lockheed Martin Corp. during the first quarter valued at about $371,000. 10 15 Associates Inc. boosted its stake in shares of Lockheed Martin Corp. by 0.7% in the first quarter. 10 15 Associates Inc. now owns 2,733 shares of the company’s stock valued at $605,000 after buying an additional 20 shares during the period. Cullinan Associates Inc. purchased a new stake in shares of Lockheed Martin Corp. during the first quarter valued at about $244,000. Finally, First Republic Investment Management Inc. boosted its stake in shares of Lockheed Martin Corp. by 12.8% in the first quarter. First Republic Investment Management Inc. now owns 179,219 shares of the company’s stock valued at $39,697,000 after buying an additional 20,334 shares during the period. 82.60% of the stock is currently owned by institutional investors.
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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