Lockheed Martin Co. (NYSE:LMT) Receives $400.87 Consensus Price Target from Analysts

Shares of Lockheed Martin Co. (NYSE:LMT) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $400.87.

Several research firms have recently issued reports on LMT. Jefferies Financial Group reiterated a “neutral” rating on shares of Lockheed Martin in a research note on Friday, September 10th. Wells Fargo & Company upped their price target on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 27th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $370.20 price target (down previously from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th.

NYSE LMT traded down $0.52 on Friday, reaching $340.98. The stock had a trading volume of 2,108,086 shares, compared to its average volume of 1,475,023. The business has a 50 day moving average price of $362.39 and a 200 day moving average price of $371.66. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.79. Lockheed Martin has a 1 year low of $319.81 and a 1 year high of $399.00. The company has a market capitalization of $94.42 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 3.23 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Sunday, July 25th. The aerospace company reported $6.52 EPS for the quarter, missing analysts’ consensus estimates of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The firm had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $16.93 billion. During the same quarter last year, the firm earned $5.79 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Lockheed Martin will post 23.45 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be given a dividend of $2.60 per share. The ex-dividend date is Tuesday, August 31st. This represents a $10.40 annualized dividend and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is presently 41.87%.

Several hedge funds and other institutional investors have recently bought and sold shares of LMT. Ironwood Wealth Management LLC. lifted its position in shares of Lockheed Martin by 9.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 1,207 shares of the aerospace company’s stock worth $446,000 after purchasing an additional 102 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Lockheed Martin by 17.1% during the 1st quarter. Victory Capital Management Inc. now owns 322,919 shares of the aerospace company’s stock worth $119,318,000 after purchasing an additional 47,237 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Lockheed Martin by 80.8% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,287 shares of the aerospace company’s stock worth $1,215,000 after purchasing an additional 1,469 shares during the last quarter. Community Bank N.A. lifted its position in shares of Lockheed Martin by 19.4% during the 1st quarter. Community Bank N.A. now owns 1,290 shares of the aerospace company’s stock worth $476,000 after purchasing an additional 210 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in shares of Lockheed Martin by 11.9% during the 1st quarter. Institute for Wealth Management LLC. now owns 2,244 shares of the aerospace company’s stock worth $829,000 after purchasing an additional 239 shares during the last quarter. 74.51% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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