Lockheed Martin Co. (LMT) Given Average Recommendation of “Buy” by Analysts
Shares of Lockheed Martin Co. (NYSE:LMT) have earned an average recommendation of “Buy” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $355.13.
Several equities analysts have issued reports on LMT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $313.00 price objective on shares of Lockheed Martin in a report on Tuesday, February 5th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective on the stock in a report on Thursday, April 25th. Barclays raised their price target on Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a report on Thursday. Cowen reissued a “buy” rating and set a $360.00 price target on shares of Lockheed Martin in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price target on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th.
NYSE:LMT traded up $1.50 during trading hours on Thursday, hitting $337.67. The company’s stock had a trading volume of 138,829 shares, compared to its average volume of 1,233,483. The firm has a market capitalization of $94.76 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.33 and a beta of 1.04. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $351.35.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.61%. Lockheed Martin’s payout ratio is 49.30%.
In related news, VP Brian P. Colan sold 4,000 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the completion of the transaction, the vice president now directly owns 2,489 shares in the company, valued at approximately $758,049.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total value of $18,222,464.40. Following the transaction, the chairman now owns 109,531 shares of the company’s stock, valued at $33,582,204.60. The disclosure for this sale can be found here. Insiders have sold a total of 72,949 shares of company stock valued at $22,403,743 over the last 90 days. Insiders own 0.35% of the company’s stock.
Several institutional investors have recently modified their holdings of LMT. Kore Private Wealth LLC purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $792,000. Inscription Capital LLC grew its stake in Lockheed Martin by 18.3% in the 1st quarter. Inscription Capital LLC now owns 1,221 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 189 shares during the period. Bontempo Ohly Capital Mgmt LLC grew its stake in Lockheed Martin by 0.5% in the 1st quarter. Bontempo Ohly Capital Mgmt LLC now owns 8,731 shares of the aerospace company’s stock worth $2,621,000 after acquiring an additional 42 shares during the period. Covenant Partners LLC purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $1,025,000. Finally, Abbot Financial Management Inc. grew its stake in Lockheed Martin by 3.6% in the 1st quarter. Abbot Financial Management Inc. now owns 6,685 shares of the aerospace company’s stock worth $2,007,000 after acquiring an additional 235 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.
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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