StockNews.com Lowers Lockheed Martin (NYSE:LMT) to Buy

StockNews.com cut shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a buy rating in a report released on Wednesday.

Other research analysts have also recently issued research reports about the company. Melius upgraded Lockheed Martin from a hold rating to a buy rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Bank of America reaffirmed a buy rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Melius Research raised Lockheed Martin to a strong-buy rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised shares of Lockheed Martin from a sector perform rating to an outperform rating and lifted their target price for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of Moderate Buy and a consensus price target of $562.54.

Lockheed Martin Stock Down 0.1 %

NYSE:LMT opened at $605.14 on Wednesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm’s 50-day moving average price is $565.71 and its 200-day moving average price is $499.21. The company has a market capitalization of $145.20 billion, a PE ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $611.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the company earned $6.73 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Lockheed Martin will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.18%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently made changes to their positions in the business. Allied Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 0.5% during the 3rd quarter. Allied Investment Advisors LLC now owns 18,626 shares of the aerospace company’s stock worth $10,888,000 after acquiring an additional 91 shares in the last quarter. Fluent Financial LLC purchased a new position in Lockheed Martin in the third quarter worth about $889,000. SG Americas Securities LLC increased its stake in Lockheed Martin by 67.5% during the third quarter. SG Americas Securities LLC now owns 64,831 shares of the aerospace company’s stock worth $37,898,000 after acquiring an additional 26,127 shares during the last quarter. Curbstone Financial Management Corp purchased a new stake in Lockheed Martin during the third quarter valued at approximately $421,000. Finally, Czech National Bank raised its position in Lockheed Martin by 6.2% during the third quarter. Czech National Bank now owns 43,214 shares of the aerospace company’s stock valued at $25,261,000 after purchasing an additional 2,520 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.