Zacks Investment Research lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “Lockheed Martin, being the largest defense contractor in the world, enjoys a strong demand for its high-end military equipments in domestic as well as international markets. Consequently, strong order growth has been a primary growth driver for this company. Lately, the company has been witnessing strong demand for its equipment, ranging from C-130J aircraft in France and Germany to helicopters in Poland to missile defense systems in the Asia-Pacific, Europe, and Middle East regions. It continues to be a strong cash generator, helping it to take important cash deployment decisions. However, the company faces intense competition for its broad portfolio of products and services in both domestic and international markets. Also, its satellite programs at its Space business segment is experiencing performance issues related to the development of a modernized LM 2100 satellite platform. Its shares have also underperformed its industry in past one year.”
LMT has been the topic of a number of other reports. UBS Group began coverage on shares of Lockheed Martin in a research report on Wednesday, August 15th. They issued a buy rating and a $400.00 price objective on the stock. ValuEngine lowered shares of Lockheed Martin from a buy rating to a hold rating in a research report on Tuesday, May 22nd. Cowen upgraded shares of Lockheed Martin from a market perform rating to an outperform rating and set a $370.00 price objective on the stock in a research report on Wednesday, July 25th. Stifel Nicolaus lowered their price objective on shares of Lockheed Martin from $400.00 to $370.00 and set a buy rating on the stock in a research report on Wednesday, July 25th. Finally, Sanford C. Bernstein lifted their price objective on shares of Lockheed Martin from $349.00 to $356.00 and gave the company a market perform rating in a research report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Lockheed Martin currently has an average rating of Buy and a consensus target price of $372.02.
Shares of LMT opened at $325.23 on Friday. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19. The company has a market cap of $89.17 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.48 and a beta of 0.71. Lockheed Martin has a 12-month low of $291.52 and a 12-month high of $363.00.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The firm had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same period last year, the firm posted $3.23 EPS. Lockheed Martin’s quarterly revenue was up 6.6% on a year-over-year basis. analysts anticipate that Lockheed Martin will post 17.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.
In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the sale, the chairman now owns 90,625 shares of the company’s stock, valued at $29,333,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 7,250 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the sale, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. raised its stake in shares of Lockheed Martin by 38.5% during the 2nd quarter. Nomura Holdings Inc. now owns 58,500 shares of the aerospace company’s stock worth $17,283,000 after buying an additional 16,247 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Lockheed Martin by 1.4% during the 2nd quarter. Schroder Investment Management Group now owns 115,131 shares of the aerospace company’s stock worth $33,991,000 after buying an additional 1,564 shares during the last quarter. Global X Management Co LLC raised its stake in shares of Lockheed Martin by 17.7% during the 2nd quarter. Global X Management Co LLC now owns 1,492 shares of the aerospace company’s stock worth $441,000 after buying an additional 224 shares during the last quarter. WealthPLAN Partners LLC raised its stake in shares of Lockheed Martin by 19.8% during the 2nd quarter. WealthPLAN Partners LLC now owns 2,042 shares of the aerospace company’s stock worth $603,000 after buying an additional 337 shares during the last quarter. Finally, MAI Capital Management raised its stake in shares of Lockheed Martin by 73.7% during the 2nd quarter. MAI Capital Management now owns 2,770 shares of the aerospace company’s stock worth $818,000 after buying an additional 1,175 shares during the last quarter. 78.33% of the stock is owned by institutional investors.
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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