BidaskClub downgraded shares of Lockheed Martin Corporation (NYSE:LMT) from a buy rating to a hold rating in a research report sent to investors on Monday, July 31st.
A number of other equities research analysts have also recently commented on LMT. Zacks Investment Research cut shares of Lockheed Martin Corporation from a hold rating to a sell rating in a research note on Tuesday, July 11th. Royal Bank Of Canada restated a hold rating and issued a $263.00 price objective on shares of Lockheed Martin Corporation in a report on Tuesday, May 9th. Stifel Nicolaus lifted their price target on Lockheed Martin Corporation from $290.00 to $300.00 and gave the stock a buy rating in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a hold rating and issued a $240.00 target price on shares of Lockheed Martin Corporation in a research report on Monday, June 12th. Finally, Cowen and Company reiterated a hold rating and issued a $265.00 price objective on shares of Lockheed Martin Corporation in a research note on Tuesday, April 25th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $291.15.
Shares of Lockheed Martin Corporation (LMT) traded down 0.74% on Monday, hitting $299.20. 1,204,704 shares of the stock traded hands. Lockheed Martin Corporation has a 52 week low of $228.50 and a 52 week high of $308.48. The stock has a market cap of $86.17 billion, a price-to-earnings ratio of 17.36 and a beta of 0.60. The stock has a 50 day moving average price of $292.39 and a 200-day moving average price of $276.13.
Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The firm had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company posted $3.32 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Lockheed Martin Corporation will post $12.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a dividend of $1.82 per share. The ex-dividend date is Wednesday, August 30th. This represents a $7.28 dividend on an annualized basis and a yield of 2.43%. Lockheed Martin Corporation’s payout ratio is 42.52%.
In other news, Chairman Marillyn A. Hewson sold 26,000 shares of Lockheed Martin Corporation stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total value of $7,553,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Orlando D. Carvalho sold 8,870 shares of Lockheed Martin Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $307.95, for a total value of $2,731,516.50. Following the completion of the transaction, the insider now owns 27,728 shares in the company, valued at $8,538,837.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,220 shares of company stock valued at $13,293,563. Insiders own 0.39% of the company’s stock.
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.
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