Other equities analysts have also issued reports about the stock. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $505.00 to $455.00 and set a hold rating on the stock in a research note on Wednesday, October 4th. JPMorgan Chase & Co. decreased their price target on Lockheed Martin from $495.00 to $481.00 and set a neutral rating for the company in a report on Wednesday, October 18th. UBS Group increased their price target on Lockheed Martin from $481.00 to $488.00 in a report on Monday. Citigroup reduced their target price on Lockheed Martin from $555.00 to $540.00 and set a buy rating for the company in a report on Wednesday, October 18th. Finally, StockNews.com started coverage on Lockheed Martin in a research report on Thursday, October 5th. They issued a buy rating for the company. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of Hold and an average target price of $494.31.
Lockheed Martin Stock Down 0.6 %
Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same period in the prior year, the firm earned $7.79 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Lockheed Martin will post 26.2 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a $3.15 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.94%. Lockheed Martin’s dividend payout ratio (DPR) is 45.74%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. grew its stake in Lockheed Martin by 1.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 14,026 shares of the aerospace company’s stock worth $6,457,000 after buying an additional 245 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Lockheed Martin by 3.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after acquiring an additional 770 shares during the period. Meridian Wealth Management LLC boosted its position in Lockheed Martin by 149.0% during the 3rd quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after acquiring an additional 7,156 shares during the period. Red Wave Investments LLC boosted its position in Lockheed Martin by 3.3% during the 2nd quarter. Red Wave Investments LLC now owns 729 shares of the aerospace company’s stock worth $336,000 after acquiring an additional 23 shares during the period. Finally, Geode Capital Management LLC boosted its position in Lockheed Martin by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,451,163 shares of the aerospace company’s stock worth $2,045,055,000 after acquiring an additional 106,461 shares during the period. 74.26% of the stock is currently 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, Rotary and Mission Systems, and Space.
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