Lockheed Martin (LMT) Price Target Raised to $370.00 at Barclays

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Lockheed Martin (NYSE:LMT) had its target price hoisted by Barclays from $340.00 to $370.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley upped 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. ValuEngine raised shares of Lockheed Martin from a sell rating to a hold rating in a report on Thursday, January 24th. Credit Suisse Group reaffirmed a hold rating and issued a $297.00 price target on shares of Lockheed Martin in a report on Wednesday, January 23rd. Jefferies Financial Group reaffirmed a hold rating and issued a $313.00 price target on shares of Lockheed Martin in a report on Tuesday, February 5th. Finally, Bank of America reaffirmed a buy rating and issued a $390.00 price target on shares of Lockheed Martin in a report on Wednesday, January 30th. 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 stock. Lockheed Martin currently has an average rating of Buy and a consensus target price of $355.13.

Shares of Lockheed Martin stock traded up $0.09 during trading on Thursday, hitting $339.48. The stock had a trading volume of 34,789 shares, compared to its average volume of 1,236,613. The stock has a market cap of $95.37 billion, a P/E ratio of 19.01, a PEG ratio of 2.32 and a beta of 1.04. Lockheed Martin has a 12 month low of $241.18 and a 12 month high of $351.35. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $4.29 by $1.70. The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.02 earnings per share. Sell-side analysts predict that Lockheed Martin will post 20.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $2.20 dividend. The ex-dividend date is Friday, May 31st. This represents a $8.80 annualized dividend and a yield of 2.59%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

In other Lockheed Martin news, VP Brian P. Colan sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the completion of the sale, the vice president now directly owns 2,489 shares in the company, valued at $758,049.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ilene S. Gordon purchased 750 shares of the business’s stock in a transaction on Monday, February 25th. The shares were acquired at an average price of $306.04 per share, with a total value of $229,530.00. Following the completion of the transaction, the director now owns 750 shares of the company’s stock, valued at $229,530. The disclosure for this purchase can be found here. Insiders sold 72,949 shares of company stock valued at $22,403,743 over the last quarter. 0.35% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. Neuberger Berman Group LLC boosted its holdings in shares of Lockheed Martin by 7.4% during the third quarter. Neuberger Berman Group LLC now owns 204,116 shares of the aerospace company’s stock worth $70,617,000 after purchasing an additional 14,151 shares during the period. Vanguard Group Inc boosted its holdings in shares of Lockheed Martin by 0.9% during the third quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after purchasing an additional 199,456 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Lockheed Martin by 7.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,587 shares of the aerospace company’s stock worth $3,558,000 after purchasing an additional 947 shares during the period. Founders Capital Management LLC boosted its holdings in shares of Lockheed Martin by 0.6% during the fourth quarter. Founders Capital Management LLC now owns 17,603 shares of the aerospace company’s stock worth $4,609,000 after purchasing an additional 102 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Lockheed Martin by 110.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 18,418 shares of the aerospace company’s stock worth $4,822,000 after purchasing an additional 9,677 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

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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