Lockheed Martin (LMT) Given “Buy” Rating at Bank of America

Bank of America restated their buy rating on shares of Lockheed Martin (NYSE:LMT) in a report published on Wednesday, Briefing.com Automated Import reports. They currently have a $400.00 price target on the aerospace company’s stock, up from their previous price target of $390.00.

A number of other equities analysts have also commented on the stock. Morgan Stanley lifted their price target on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an equal weight rating in a report on Wednesday, February 13th. Citigroup cut their price target on shares of Lockheed Martin from $400.00 to $338.00 and set a buy rating on the stock in a report on Monday, January 14th. ValuEngine upgraded shares of Lockheed Martin from a sell rating to a hold rating in a report on Thursday, January 24th. Vertical Research raised shares of Lockheed Martin from a hold rating to a buy rating and set a $340.00 target price for the company in a research note on Thursday, January 10th. Finally, Credit Suisse Group reissued a hold rating and set a $297.00 target price on shares of Lockheed Martin in a research note on Wednesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $352.31.

Shares of NYSE:LMT traded down $0.54 during mid-day trading on Wednesday, reaching $328.33. 873,149 shares of the company’s stock were exchanged, compared to its average volume of 1,151,847. The firm has a market cap of $92.77 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.91 and a current ratio of 1.17. Lockheed Martin has a twelve month low of $241.18 and a twelve month high of $351.35.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $1.70. The company had revenue of $14.34 billion for the quarter, compared to analyst estimates of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. Lockheed Martin’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.02 earnings per share. Sell-side analysts forecast that Lockheed Martin will post 20.59 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s dividend payout ratio is presently 49.30%.

In related news, insider Michele A. Evans sold 7,690 shares of Lockheed Martin stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the completion of the transaction, the insider now owns 7,690 shares of the company’s stock, valued at $2,297,618.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian P. Colan sold 4,000 shares of Lockheed Martin stock in a transaction 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 transaction, the vice president now directly owns 2,489 shares of the company’s stock, valued at approximately $758,049.84. The disclosure for this sale can be found here. Insiders have sold 87,286 shares of company stock valued at $26,704,368 in the last three months. 0.35% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Investment Advisory Services LLC increased its stake in Lockheed Martin by 2.7% in the first quarter. Capital Investment Advisory Services LLC now owns 1,288 shares of the aerospace company’s stock valued at $387,000 after purchasing an additional 34 shares in the last quarter. Lederer & Associates Investment Counsel CA increased its stake in Lockheed Martin by 0.7% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 5,149 shares of the aerospace company’s stock valued at $1,348,000 after purchasing an additional 35 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Lockheed Martin by 1.4% in the fourth quarter. Belpointe Asset Management LLC now owns 2,583 shares of the aerospace company’s stock valued at $676,000 after purchasing an additional 35 shares in the last quarter. Physicians Financial Services Inc. increased its stake in Lockheed Martin by 0.8% in the fourth quarter. Physicians Financial Services Inc. now owns 4,795 shares of the aerospace company’s stock valued at $1,256,000 after purchasing an additional 37 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in Lockheed Martin by 1.4% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,832 shares of the aerospace company’s stock valued at $742,000 after purchasing an additional 38 shares in the last quarter. 78.34% of the stock is owned by hedge funds and other institutional investors.

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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