Morgan Stanley Raises Lockheed Martin (NYSE:LMT) Price Target to $381.00

Lockheed Martin (NYSE:LMT) had its price target upped by Morgan Stanley from $376.00 to $381.00 in a report released on Thursday morning, AnalystRatings.com reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

A number of other analysts have also commented on LMT. JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. DZ Bank reaffirmed a hold rating on shares of Lockheed Martin in a research note on Thursday, July 25th. UBS Group upped their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Credit Suisse Group upped their price objective on shares of Lockheed Martin from $379.00 to $401.00 and gave the company a neutral rating in a research note on Thursday. Finally, Barclays reaffirmed a hold rating and set a $410.00 price objective on shares of Lockheed Martin in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Lockheed Martin currently has an average rating of Buy and a consensus target price of $372.64.

LMT stock traded down $5.41 during mid-day trading on Thursday, reaching $381.47. 1,220,629 shares of the stock traded hands, compared to its average volume of 1,106,083. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $399.96. The company has a market cap of $109.25 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.57 and a beta of 0.96. The stock’s fifty day moving average is $385.55 and its 200-day moving average is $354.71.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same period in the prior year, the firm earned $4.31 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that Lockheed Martin will post 21.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s dividend payout ratio is 49.30%.

In other news, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at $540,209. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock valued at $8,292,527 over the last three months. 0.35% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LMT. Invesco Ltd. increased its holdings in Lockheed Martin by 360.8% in the second quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock worth $950,739,000 after buying an additional 2,047,707 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Lockheed Martin in the second quarter worth approximately $652,536,000. Thoroughbred Financial Services LLC increased its holdings in Lockheed Martin by 38,923.0% in the second quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock worth $134,122,000 after buying an additional 1,337,784 shares during the last quarter. Suvretta Capital Management LLC acquired a new position in Lockheed Martin in the second quarter worth approximately $233,473,000. Finally, Prudential Financial Inc. increased its holdings in Lockheed Martin by 55.3% in the second quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock worth $284,699,000 after buying an additional 278,709 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.

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. 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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