Cowen and Company reiterated their hold rating on shares of Lockheed Martin Corporation (NYSE:LMT) in a report released on Thursday morning. They currently have a $310.00 target price on the aerospace company’s stock, up from their previous target price of $295.00.
“While order timing is an issue and Rev Rec” will impact 2017-18 GAAP EPS.”,” Cowen and Company’s analyst commented.
A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Lockheed Martin Corporation from a hold rating to a buy rating in a report on Saturday, June 17th. Zacks Investment Research downgraded Lockheed Martin Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a buy rating and issued a $320.00 target price (up previously from $300.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a hold rating and issued a $240.00 target price on shares of Lockheed Martin Corporation in a report on Monday, June 12th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $300.00 target price (up previously from $280.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $303.19.
Lockheed Martin Corporation (NYSE:LMT) opened at 302.30 on Thursday. Lockheed Martin Corporation has a 12 month low of $228.50 and a 12 month high of $308.48. The firm has a 50-day moving average price of $301.54 and a 200 day moving average price of $281.95. The company has a market cap of $87.06 billion, a P/E ratio of 17.54 and a beta of 0.59.
Lockheed Martin Corporation (NYSE:LMT) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.13. The firm had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.32 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post $12.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is currently 42.52%.
In related news, SVP Maryanne Lavan sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $290.11, for a total transaction of $2,901,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Marillyn A. Hewson sold 26,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total value of $7,553,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,220 shares of company stock valued at $13,293,563. 0.39% of the stock is owned by corporate insiders.
About Lockheed Martin Corporation
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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