Morgan Stanley restated their overweight rating on shares of Lockheed Martin (NYSE:LMT) in a report issued on Friday, Marketbeat.com reports. Morgan Stanley currently has a $388.00 price objective on the aerospace company’s stock, up from their prior price objective of $382.00.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Lockheed Martin from a hold rating to a buy rating and set a $373.00 price target on the stock in a research report on Friday, January 19th. Vetr downgraded shares of Lockheed Martin from a strong-buy rating to a buy rating and set a $349.96 price objective on the stock. in a research note on Monday, November 13th. Bank of America set a $360.00 price objective on shares of Lockheed Martin and gave the stock a buy rating in a research note on Friday, October 27th. Citigroup increased their price objective on shares of Lockheed Martin from $355.00 to $400.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus increased their price objective on shares of Lockheed Martin from $345.00 to $400.00 and gave the stock a buy rating in a research note on Monday, January 29th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $375.40.
Lockheed Martin (NYSE LMT) opened at $358.70 on Friday. Lockheed Martin has a 1 year low of $264.04 and a 1 year high of $363.00. The company has a market cap of $102,430.00, a PE ratio of 27.40, a P/E/G ratio of 3.16 and a beta of 0.73. The company has a debt-to-equity ratio of -22.19, a quick ratio of 1.03 and a current ratio of 1.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Thursday, March 1st will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.23%. Lockheed Martin’s payout ratio is currently 61.12%.
In other news, Chairman Marillyn A. Hewson sold 19,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $346.74, for a total value of $6,588,060.00. Following the sale, the chairman now directly owns 80,478 shares in the company, valued at approximately $27,904,941.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard F. Ambrose sold 7,517 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $357.89, for a total transaction of $2,690,259.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,517 shares of company stock worth $9,905,819. 0.39% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Buckingham Capital Management Inc. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $208,000. D.B. Root & Company LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $971,000. Certified Advisory Corp acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $1,362,000. Fairfield Bush & CO. boosted its stake in shares of Lockheed Martin by 34.5% in the 4th quarter. Fairfield Bush & CO. now owns 4,480 shares of the aerospace company’s stock valued at $1,438,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Elkfork Partners LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $2,113,000. Institutional investors own 78.71% of the company’s stock.
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Lockheed Martin Company Profile
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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