Zacks Investment Research upgraded shares of Lockheed Martin Corporation (NYSE:LMT) from a sell rating to a hold rating in a research note published on Monday, July 17th. The brokerage currently has $323.00 target price on the aerospace company’s stock.
According to Zacks, “Being the largest defense contractor in the world, Lockheed Martin continues to be a strong cash generator. Moreover, the proposed budget of fiscal 2018 hinted at the U.S. government to spend more on defense primes like Lockheed Martin. Apart from its strong foray in the U.S., the company also boasts a strong opportunity in the ever-expanding international defense market. However, majority of Lockheed Martin’s sales are derived from government contracts. This limits the company’s commercial exposure and almost full government dependency may prove fatal in maintaining its margins and bottom line. Also, a comparative analysis of the company’s historical EV/EBITDA ratio, reflects a relatively gloomy picture when compared to its broader industry’s ratio. All these concerns caused Lockheed Martin to underperform the Zacks categorized Aerospace-Defense industry during the last one year.”
A number of other brokerages also recently commented on LMT. Jefferies Group LLC restated a hold rating and issued a $240.00 target price on shares of Lockheed Martin Corporation in a research note on Friday, July 14th. Royal Bank Of Canada restated a hold rating and issued a $263.00 target price on shares of Lockheed Martin Corporation in a research note on Wednesday, July 12th. BidaskClub upgraded Lockheed Martin Corporation from a hold rating to a buy rating in a research note on Saturday, July 8th. Cowen and Company restated a hold rating and issued a $265.00 target price on shares of Lockheed Martin Corporation in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus lifted their target price on Lockheed Martin Corporation from $290.00 to $300.00 and gave the company a buy rating in a research note on Wednesday, April 26th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $289.39.
Lockheed Martin Corporation (NYSE:LMT) traded up 0.16% during mid-day trading on Monday, reaching $303.75. The company’s stock had a trading volume of 987,783 shares. The firm has a market capitalization of $87.48 billion, a PE ratio of 17.62 and a beta of 0.60. The stock’s 50-day moving average is $288.81 and its 200-day moving average is $274.31. Lockheed Martin Corporation has a 12 month low of $228.50 and a 12 month high of $307.10.
Lockheed Martin Corporation (NYSE:LMT) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 EPS for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The company had revenue of $12.69 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same period in the previous year, the firm posted $3.32 earnings per share. Lockheed Martin Corporation’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin Corporation will post $12.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $7.28 annualized dividend and a yield of 2.40%. Lockheed Martin Corporation’s payout ratio is 42.52%.
In other Lockheed Martin Corporation news, SVP Maryanne Lavan sold 10,000 shares of Lockheed Martin Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $290.11, for a total value of $2,901,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marillyn A. Hewson sold 26,000 shares of Lockheed Martin Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total transaction of $7,553,780.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
About Lockheed Martin Corporation
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lockheed Martin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.