Brokerages Set Lockheed Martin Co. (NYSE:LMT) Target Price at $494.79

Posted by Defense World Staff on Apr 28th, 2023

Shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) have been assigned an average rating of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $494.79.

Several brokerages recently commented on LMT. Citigroup lifted their price target on shares of Lockheed Martin from $546.00 to $579.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 19th. Credit Suisse Group upped their price target on shares of Lockheed Martin from $510.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Susquehanna increased their target price on shares of Lockheed Martin from $510.00 to $512.00 and gave the stock a “positive” rating in a report on Wednesday, January 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $480.00 to $500.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th.

Insider Buying and Selling at Lockheed Martin

In related news, Director John Donovan bought 506 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, April 19th. The shares were acquired at an average cost of $495.17 per share, for a total transaction of $250,556.02. Following the completion of the acquisition, the director now directly owns 2,830 shares of the company’s stock, valued at approximately $1,401,331.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Stephanie C. Hill sold 2,391 shares of the stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $490.84, for a total transaction of $1,173,598.44. Following the completion of the transaction, the executive vice president now owns 12,604 shares in the company, valued at approximately $6,186,547.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Donovan acquired 506 shares of the company’s stock in a transaction that occurred on Wednesday, April 19th. The shares were bought at an average cost of $495.17 per share, for a total transaction of $250,556.02. Following the acquisition, the director now directly owns 2,830 shares in the company, valued at approximately $1,401,331.10. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently modified their holdings of the company. Telos Capital Management Inc. grew its position in shares of Lockheed Martin by 127.6% in the 1st quarter. Telos Capital Management Inc. now owns 1,395 shares of the aerospace company’s stock worth $660,000 after buying an additional 782 shares during the last quarter. Conning Inc. raised its stake in Lockheed Martin by 0.9% during the first quarter. Conning Inc. now owns 74,606 shares of the aerospace company’s stock valued at $35,208,000 after buying an additional 653 shares during the last quarter. Columbus Macro LLC raised its stake in Lockheed Martin by 8.7% during the first quarter. Columbus Macro LLC now owns 1,076 shares of the aerospace company’s stock valued at $509,000 after buying an additional 86 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Lockheed Martin by 8.8% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,222 shares of the aerospace company’s stock valued at $1,998,000 after buying an additional 341 shares during the last quarter. Finally, Strategic Advisors LLC raised its stake in Lockheed Martin by 1.5% during the first quarter. Strategic Advisors LLC now owns 2,077 shares of the aerospace company’s stock valued at $982,000 after buying an additional 30 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Up 0.7 %

NYSE:LMT opened at $465.00 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.30 and a quick ratio of 1.10. The business has a fifty day moving average price of $479.59 and a 200-day moving average price of $471.90. The firm has a market capitalization of $117.76 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. Lockheed Martin has a one year low of $373.67 and a one year high of $508.10.

Lockheed Martin (NYSE:LMT – Get Rating) last issued its quarterly earnings results on Tuesday, April 18th. The aerospace company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.35. Lockheed Martin had a return on equity of 67.75% and a net margin of 8.60%. The business had revenue of $15.13 billion for the quarter, compared to the consensus estimate of $15.01 billion. During the same period in the prior year, the firm posted $6.44 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin will post 26.77 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Thursday, June 1st will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.58%. Lockheed Martin’s dividend payout ratio (DPR) is presently 54.84%.

Lockheed Martin Company Profile

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Lockheed Martin Corp. is 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.