Shares of Lockheed Martin Co. (NYSE:LMT) have been assigned an average recommendation of “Buy” from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $352.31.
Several brokerages recently commented on LMT. Susquehanna Bancshares began coverage on Lockheed Martin in a report on Thursday, January 10th. They issued a “positive” rating and a $321.00 target price on the stock. Jefferies Financial Group restated a “hold” rating and set a $274.00 price target on shares of Lockheed Martin in a report on Wednesday, January 9th. Morgan Stanley cut Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price target on the stock. in a report on Wednesday, January 9th. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America restated a “buy” rating and set a $390.00 price target on shares of Lockheed Martin in a report on Wednesday, January 30th.
LMT stock traded down $1.31 during trading on Friday, hitting $327.56. The company had a trading volume of 25,539 shares, compared to its average volume of 1,258,615. Lockheed Martin has a one year low of $241.18 and a one year high of $351.35. The stock has a market capitalization of $94.12 billion, a PE ratio of 18.37, a PEG ratio of 2.36 and a beta of 1.01. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.91.
The company also recently announced 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. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s payout ratio is 49.30%.
In other news, insider Michele A. Evans sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the transaction, the insider now directly 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 the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the company’s 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 directly owns 109,531 shares in the company, valued at $33,582,204.60. The disclosure for this sale can be found here. Insiders have sold 87,286 shares of company stock worth $26,704,368 over the last ninety days. 0.35% of the stock is owned by insiders.
Several large investors have recently modified their holdings of LMT. Vanguard Group Inc raised its position in Lockheed Martin by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after buying an additional 199,456 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Lockheed Martin by 77,867.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock valued at $81,000 after buying an additional 21,125,353 shares during the last quarter. BlackRock Inc. raised its position in Lockheed Martin by 8.2% in the 4th quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock valued at $4,925,719,000 after buying an additional 1,426,889 shares during the last quarter. Morgan Stanley raised its position in Lockheed Martin by 3.0% in the 3rd quarter. Morgan Stanley now owns 3,587,085 shares of the aerospace company’s stock valued at $1,240,989,000 after buying an additional 105,749 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after buying an additional 691,751 shares during the last quarter. 78.34% of the stock is currently owned by 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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