Lockheed Martin Co. (NYSE:LMT) Receives $366.43 Average Price Target from Brokerages

Shares of Lockheed Martin Co. (NYSE:LMT) have earned an average rating of “Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $366.43.

Several research analysts have commented on the stock. Bank of America reiterated a “buy” rating and issued a $400.00 target price (up from $390.00) on shares of Lockheed Martin in a report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a report on Thursday, April 25th. Cowen reiterated a “buy” rating and issued a $360.00 target price on shares of Lockheed Martin in a report on Wednesday, April 24th. UBS Group raised their target price on shares of Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Barclays raised their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th.

NYSE:LMT opened at $361.91 on Tuesday. Lockheed Martin has a twelve month low of $241.18 and a twelve month high of $373.37. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The firm’s 50-day simple moving average is $362.76. The company has a market cap of $102.54 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.41 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same period last year, the company posted $4.31 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin will post 21.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.

In other news, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at $540,209. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock valued at $8,292,527 over the last three months. 0.35% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oakworth Capital Inc. raised its position in Lockheed Martin by 1.4% during the second quarter. Oakworth Capital Inc. now owns 3,500 shares of the aerospace company’s stock valued at $1,273,000 after acquiring an additional 49 shares in the last quarter. Congress Park Capital LLC raised its position in Lockheed Martin by 9.0% during the second quarter. Congress Park Capital LLC now owns 3,710 shares of the aerospace company’s stock valued at $1,371,000 after acquiring an additional 305 shares in the last quarter. Rudd International Inc. bought a new position in Lockheed Martin during the second quarter valued at approximately $3,274,000. Chicago Equity Partners LLC raised its position in Lockheed Martin by 79.5% during the second quarter. Chicago Equity Partners LLC now owns 23,335 shares of the aerospace company’s stock valued at $8,483,000 after acquiring an additional 10,335 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Lockheed Martin during the second quarter valued at approximately $262,000. 78.47% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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