Lockheed Martin Corp. (LMT) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $298.00 price target on the stock.
According to Zacks, “Lockheed Martin’s third-quarter 2016 earnings as well as revenues surpassed the Zacks Consensus Estimate. On a year-over-year basis, the company recorded an improvement for both the top and the bottom line. Meanwhile, the 10% hike in quarterly dividend raises investors’ optimism. Management also authorized an additional share repurchase of $2 billion, highlighting the company’s strong capital structure. Moreover, the company's solid outlook, impressive revenue growth and potential share buybacks remain major positives. The hike in AWE venture’s ownership stake is also encouraging. However, the threat of sequestration looms large for this defense major, as it draws a major portion of its revenues from the defense department. The weak backlog and rising competition in the global market also remain major headwinds. “
A number of other equities research analysts have also recently issued reports on LMT. Drexel Hamilton reissued a buy rating and set a $284.00 target price on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Argus boosted their target price on shares of Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a buy rating in a report on Wednesday, July 20th. Credit Suisse Group AG reissued a neutral rating and set a $255.00 target price (up previously from $225.00) on shares of Lockheed Martin Corp. in a report on Friday, July 22nd. Jefferies Group reissued a hold rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. reissued a neutral rating and set a $245.00 target price on shares of Lockheed Martin Corp. in a report on Wednesday, August 24th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Lockheed Martin Corp. currently has a consensus rating of Buy and a consensus price target of $264.81.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 0.021% on Wednesday, hitting $263.405. The stock had a trading volume of 567,966 shares. Lockheed Martin Corp. has a 1-year low of $200.47 and a 1-year high of $269.74. The company has a market capitalization of $77.17 billion, a PE ratio of 15.406 and a beta of 0.65. The firm has a 50-day moving average of $242.16 and a 200 day moving average of $245.18.
Lockheed Martin Corp. (NYSE:LMT) last issued its earnings results on Tuesday, October 25th. The company reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.60 billion for the quarter, compared to analysts’ expectations of $11.49 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin Corp. will post $12.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be issued a dividend of $1.82 per share. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.76%. Lockheed Martin Corp.’s dividend payout ratio is presently 39.19%.
Several large investors have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Lockheed Martin Corp. during the first quarter valued at about $375,000. Squarepoint Ops LLC bought a new stake in shares of Lockheed Martin Corp. during the first quarter valued at about $2,011,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Lockheed Martin Corp. by 1.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 50,824 shares of the company’s stock valued at $11,258,000 after buying an additional 644 shares in the last quarter. Avalon Advisors LLC boosted its stake in shares of Lockheed Martin Corp. by 9.4% in the first quarter. Avalon Advisors LLC now owns 112,097 shares of the company’s stock valued at $24,829,000 after buying an additional 9,605 shares in the last quarter. Finally, Euclid Advisors LLC boosted its stake in shares of Lockheed Martin Corp. by 115.8% in the first quarter. Euclid Advisors LLC now owns 26,775 shares of the company’s stock valued at $5,931,000 after buying an additional 14,368 shares in the last quarter. Hedge funds and other institutional investors own 82.60% of the company’s stock.
About Lockheed Martin Corp.
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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