Lockheed Martin (NYSE:LMT) Price Target Raised to $401.00

Lockheed Martin (NYSE:LMT) had its target price raised by Credit Suisse Group from $379.00 to $401.00 in a research report released on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the aerospace company’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley upped their target price on Lockheed Martin from $356.00 to $376.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $360.00 to $395.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. UBS Group upped their target price on Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Barclays reiterated a hold rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday. Finally, DZ Bank reiterated a hold rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $372.64.

NYSE LMT traded down $5.41 on Thursday, reaching $381.47. The stock had a trading volume of 1,220,629 shares, compared to its average volume of 1,106,083. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96. The firm has a fifty day moving average of $385.55 and a two-hundred day moving average of $354.71. Lockheed Martin has a 1-year low of $241.18 and a 1-year high of $399.96. The company has a market cap of $109.25 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.57 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.26. The firm had revenue of $14.42 billion during the quarter, compared to the consensus estimate of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.31 EPS. Research analysts predict that Lockheed Martin will post 21.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s dividend payout ratio is currently 49.30%.

In related news, SVP Maryanne Lavan sold 1,003 shares of the company’s stock in a transaction 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 in the company, valued at approximately $540,209. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James D. Taiclet, Jr. acquired 1,354 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $376.32 per share, with a total value of $509,537.28. Following the completion of the transaction, the director now owns 1,354 shares in the company, valued at $509,537.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 22,503 shares of company stock valued at $8,292,527. 0.35% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. OmniStar Financial Group Inc. lifted its position in shares of Lockheed Martin by 8.4% during the 3rd quarter. OmniStar Financial Group Inc. now owns 3,719 shares of the aerospace company’s stock worth $1,451,000 after buying an additional 287 shares during the last quarter. Rothschild Investment Corp IL lifted its position in shares of Lockheed Martin by 10.9% during the 3rd quarter. Rothschild Investment Corp IL now owns 8,854 shares of the aerospace company’s stock worth $3,454,000 after buying an additional 871 shares during the last quarter. Verity & Verity LLC lifted its position in shares of Lockheed Martin by 1.9% during the 3rd quarter. Verity & Verity LLC now owns 29,578 shares of the aerospace company’s stock worth $11,376,000 after buying an additional 553 shares during the last quarter. Clarus Wealth Advisors lifted its position in shares of Lockheed Martin by 21.7% during the 3rd quarter. Clarus Wealth Advisors now owns 13,713 shares of the aerospace company’s stock worth $5,349,000 after buying an additional 2,449 shares during the last quarter. Finally, Northside Capital Management LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $245,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

Lockheed Martin Company Profile

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.

See Also: Current Ratio

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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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