Lockheed Martin Co. (NYSE:LMT) – Equities researchers at Jefferies Financial Group increased their Q2 2019 earnings per share estimates for shares of Lockheed Martin in a report released on Sunday, April 28th, according to Zacks Investment Research. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $4.74 per share for the quarter, up from their prior estimate of $4.66. Jefferies Financial Group has a “Hold” rating and a $313.00 price objective on the stock. Jefferies Financial Group also issued estimates for Lockheed Martin’s Q3 2019 earnings at $4.71 EPS and FY2019 earnings at $20.15 EPS.
LMT has been the subject of a number of other research reports. Bank of America reaffirmed a “buy” rating and issued a $390.00 target price on shares of Lockheed Martin in a report on Wednesday, January 30th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Morgan Stanley increased their price target on Lockheed Martin from $300.00 to $324.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 13th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target for the company in a research note on Thursday, April 25th. Finally, UBS Group increased their price target on Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $355.13.
LMT traded down $1.29 on Tuesday, reaching $338.78. The stock had a trading volume of 1,237,345 shares, compared to its average volume of 1,232,578. Lockheed Martin has a fifty-two week low of $241.18 and a fifty-two week high of $351.35. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. The stock has a market cap of $96.10 billion, a PE ratio of 18.98, a PEG ratio of 2.39 and a beta of 1.04.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The business had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. During the same period in the previous year, the company posted $4.02 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 annualized dividend and a dividend yield of 2.60%. Lockheed Martin’s payout ratio is 49.30%.
In other Lockheed Martin news, insider John Frank A. St sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $305.42, for a total value of $580,298.00. Following the transaction, the insider now owns 551 shares in the company, valued at $168,286.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ilene S. Gordon purchased 750 shares of the business’s stock in a transaction on Monday, February 25th. The stock was purchased at an average price of $306.04 per share, for a total transaction of $229,530.00. Following the acquisition, the director now owns 750 shares of the company’s stock, valued at approximately $229,530. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 68,949 shares of company stock worth $21,185,503. 0.35% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in LMT. Oregon Public Employees Retirement Fund boosted its holdings in Lockheed Martin by 77,867.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 21,125,353 shares in the last quarter. BlackRock Inc. boosted its holdings in Lockheed Martin by 8.2% in the fourth quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock worth $4,925,719,000 after acquiring an additional 1,426,889 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after acquiring an additional 691,751 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 5.6% in the first quarter. Wellington Management Group LLP now owns 12,814,499 shares of the aerospace company’s stock worth $3,846,400,000 after acquiring an additional 685,178 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Lockheed Martin by 40.6% in the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock worth $339,041,000 after acquiring an additional 373,997 shares in the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.
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.