Lockheed Martin (LMT) Sets New 12-Month Low at $283.21

Lockheed Martin Co. (NYSE:LMT) shares reached a new 52-week low during trading on Monday . The stock traded as low as $283.21 and last traded at $285.42, with a volume of 290534 shares. The stock had previously closed at $305.05.

Several research firms have commented on LMT. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 target price on the stock in a research note on Wednesday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Sanford C. Bernstein lifted their target price on shares of Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 25th. Credit Suisse Group decreased their target price on shares of Lockheed Martin from $368.00 to $357.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Finally, Berenberg Bank raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $376.49.

The firm has a market cap of $86.76 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.35 and a beta of 0.71. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11.



Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.24 earnings per share. Equities analysts expect that Lockheed Martin Co. will post 17.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s payout ratio is 60.02%.

Lockheed Martin announced that its Board of Directors has approved a share buyback plan on Thursday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in the company. Canton Hathaway LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth about $104,000. FTB Advisors Inc. raised its position in shares of Lockheed Martin by 142.6% in the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after purchasing an additional 211 shares during the last quarter. Fort L.P. purchased a new position in shares of Lockheed Martin in the 2nd quarter worth about $116,000. FNY Investment Advisers LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter worth about $117,000. Finally, Quad Cities Investment Group LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter worth about $131,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Lockheed Martin Company Profile (NYSE:LMT)

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.

Further Reading: Initial Public Offering (IPO)

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