Lockheed Martin (NYSE:LMT) Price Target Raised to $450.00 at Buckingham Research

Lockheed Martin (NYSE:LMT) had its price objective lifted by Buckingham Research from $405.00 to $450.00 in a report issued on Thursday morning, The Fly reports. The firm currently has a buy rating on the aerospace company’s stock. The analysts noted that the move was a valuation call.

Several other analysts have also recently issued reports on LMT. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $395.00 to $360.00 and set a neutral rating for the company in a research report on Wednesday, October 23rd. ValuEngine cut Lockheed Martin from a hold rating to a sell rating in a research report on Saturday, October 19th. Barclays reiterated a hold rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. DZ Bank restated a hold rating on shares of Lockheed Martin in a report on Thursday, July 25th. Finally, UBS Group raised their price target on Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $371.79.

Shares of NYSE:LMT traded up $3.11 during trading on Thursday, hitting $381.86. 772,430 shares of the company’s stock were exchanged, compared to its average volume of 1,168,903. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $399.96. The business’s 50-day simple moving average is $380.57 and its 200 day simple moving average is $364.83. The company has a market cap of $105.39 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The firm had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $14.87 billion. During the same quarter last year, the business posted $5.14 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin will post 21.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, November 29th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

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Lockheed Martin announced that its board has initiated a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Several large investors have recently bought and sold shares of the company. Chesley Taft & Associates LLC lifted its stake in shares of Lockheed Martin by 0.6% in the 3rd quarter. Chesley Taft & Associates LLC now owns 4,496 shares of the aerospace company’s stock valued at $1,754,000 after purchasing an additional 26 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Lockheed Martin by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after acquiring an additional 28 shares during the last quarter. Washington Trust Bank lifted its stake in shares of Lockheed Martin by 2.0% during the 3rd quarter. Washington Trust Bank now owns 1,459 shares of the aerospace company’s stock worth $569,000 after acquiring an additional 28 shares during the last quarter. Nvwm LLC lifted its stake in shares of Lockheed Martin by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,096 shares of the aerospace company’s stock worth $818,000 after acquiring an additional 28 shares during the last quarter. Finally, Karp Capital Management Corp lifted its stake in shares of Lockheed Martin by 1.0% during the 3rd quarter. Karp Capital Management Corp now owns 2,804 shares of the aerospace company’s stock worth $1,094,000 after acquiring an additional 28 shares during the last quarter. 78.57% of the stock is owned by institutional investors and hedge funds.

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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