Lockheed Martin (NYSE:LMT) PT Lowered to $376.00 at Robert W. Baird

Lockheed Martin (NYSE:LMT) had its target price lowered by Robert W. Baird from $394.00 to $376.00 in a report published on Wednesday, The Fly reports. The firm currently has a neutral rating on the aerospace company’s stock.

Several other analysts also recently weighed in on the company. Credit Suisse Group restated a neutral rating and set a $370.20 target price (down from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th. Cowen downgraded Lockheed Martin from an outperform rating to a market perform rating and lowered their target price for the company from $400.00 to $375.00 in a research note on Wednesday, September 29th. Jefferies Financial Group restated a neutral rating on shares of Lockheed Martin in a research note on Friday, September 10th. The Goldman Sachs Group downgraded Lockheed Martin from a buy rating to a neutral rating and set a $402.00 target price for the company. in a research note on Thursday, September 23rd. Finally, Wells Fargo & Company raised their target price on Lockheed Martin from $384.00 to $385.00 and gave the company an equal weight rating in a research note on Tuesday, July 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $385.17.

Shares of NYSE LMT opened at $330.94 on Wednesday. Lockheed Martin has a 12-month low of $319.81 and a 12-month high of $396.99. The company has a market cap of $91.64 billion, a P/E ratio of 12.97, a P/E/G ratio of 3.23 and a beta of 0.98. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.79. The stock has a fifty day moving average price of $353.68 and a 200 day moving average price of $371.65.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, October 25th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.24. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The firm had revenue of $16.03 billion during the quarter, compared to the consensus estimate of $17.12 billion. During the same period in the prior year, the firm earned $6.25 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Lockheed Martin will post 23.45 EPS for the current fiscal year.

Lockheed Martin declared that its Board of Directors has approved a stock repurchase program on Thursday, September 23rd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Stockholders of record on Wednesday, December 1st will be given a dividend of $2.80 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.60. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $11.20 annualized dividend and a dividend yield of 3.38%. Lockheed Martin’s dividend payout ratio (DPR) is presently 41.87%.

Several hedge funds have recently modified their holdings of LMT. Prospera Financial Services Inc lifted its position in shares of Lockheed Martin by 10,974.7% during the second quarter. Prospera Financial Services Inc now owns 1,713,807 shares of the aerospace company’s stock worth $4,257,000 after purchasing an additional 1,698,332 shares during the last quarter. BlackRock Inc. lifted its holdings in Lockheed Martin by 4.1% in the second quarter. BlackRock Inc. now owns 16,956,127 shares of the aerospace company’s stock worth $6,415,353,000 after acquiring an additional 662,580 shares during the last quarter. Stifel Financial Corp lifted its holdings in Lockheed Martin by 112.3% in the second quarter. Stifel Financial Corp now owns 1,166,572 shares of the aerospace company’s stock worth $441,394,000 after acquiring an additional 617,077 shares during the last quarter. Morgan Stanley lifted its holdings in Lockheed Martin by 15.8% in the first quarter. Morgan Stanley now owns 4,018,123 shares of the aerospace company’s stock worth $1,484,697,000 after acquiring an additional 546,951 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Lockheed Martin by 17.5% in the second quarter. Franklin Resources Inc. now owns 3,001,646 shares of the aerospace company’s stock worth $1,135,669,000 after acquiring an additional 446,165 shares during the last quarter. 74.51% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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