Lockheed Martin (NYSE:LMT) had its price objective decreased by Barclays from $369.00 to $325.00 in a research note issued to investors on Tuesday. Barclays currently has an equal weight rating on the aerospace company’s stock.
Several other equities analysts also recently commented on the company. Morgan Stanley cut their target price on Lockheed Martin from $386.00 to $366.00 and set an overweight rating for the company in a research report on Wednesday, November 14th. Credit Suisse Group cut their target price on Lockheed Martin from $368.00 to $357.00 and set a neutral rating for the company in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Lockheed Martin from a hold rating to a buy rating and set a $366.00 target price for the company in a research report on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $395.00 to $370.00 and set a neutral rating for the company in a research report on Wednesday, October 24th. Finally, Goldman Sachs Group upgraded Lockheed Martin from a neutral rating to a conviction-buy rating and raised their target price for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Nine equities research 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. Lockheed Martin currently has an average rating of Buy and an average target price of $373.13.
Lockheed Martin stock opened at $286.35 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 13.46. The company has a market cap of $81.55 billion, a P/E ratio of 21.48, a P/E/G ratio of 2.70 and a beta of 0.88. Lockheed Martin has a one year low of $277.20 and a one year high of $363.00.
Lockheed Martin announced that its board has authorized a share buyback plan on Thursday, September 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors 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 yield of 3.07%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is currently 66.02%.
In related news, VP Bruce L. Tanner sold 11,203 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the completion of the sale, the vice president now directly owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Lockheed Martin by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after buying an additional 199,456 shares during the period. BlackRock Inc. increased its stake in shares of Lockheed Martin by 0.8% in the 3rd quarter. BlackRock Inc. now owns 17,385,055 shares of the aerospace company’s stock valued at $6,014,535,000 after buying an additional 136,348 shares during the period. Morgan Stanley grew its stake in shares of Lockheed Martin by 3.0% during the third quarter. Morgan Stanley now owns 3,587,085 shares of the aerospace company’s stock worth $1,240,989,000 after purchasing an additional 105,749 shares during the period. Capital International Investors grew its stake in shares of Lockheed Martin by 47.7% during the third quarter. Capital International Investors now owns 3,465,642 shares of the aerospace company’s stock worth $1,198,974,000 after purchasing an additional 1,119,631 shares during the period. Finally, FMR LLC grew its stake in shares of Lockheed Martin by 13.7% during the third quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock worth $919,205,000 after purchasing an additional 319,488 shares during the period. 77.63% of the stock is owned by institutional investors.
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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