Lockheed Martin Co. (NYSE:LMT)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $277.20 and last traded at $282.43, with a volume of 123167 shares trading hands. The stock had previously closed at $286.73.

Several equities analysts have recently issued reports on LMT shares. UBS Group assumed coverage on shares of Lockheed Martin in a report on Wednesday, August 15th. They set a “buy” rating and a $400.00 price target for the company. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Credit Suisse Group upped their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Finally, Goldman Sachs Group raised shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and upped their price objective for the stock from $391.00 to $394.00 in a report on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $373.13.

The firm has a market capitalization of $81.55 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.70 and a beta of 0.88. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same period in the prior year, the company earned $3.24 EPS. Lockheed Martin’s revenue was up 16.0% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 17.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 3.07%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, November 30th. Lockheed Martin’s dividend payout ratio is presently 66.02%.

Lockheed Martin announced that its Board of Directors has authorized a share buyback plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the sale, the vice president now directly owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Polaris Greystone Financial Group LLC raised its holdings in Lockheed Martin by 22.6% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 867 shares of the aerospace company’s stock worth $300,000 after buying an additional 160 shares during the period. Jacobi Capital Management LLC raised its holdings in Lockheed Martin by 11.2% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,650 shares of the aerospace company’s stock worth $571,000 after buying an additional 166 shares during the period. Summit Financial Strategies Inc. raised its holdings in Lockheed Martin by 19.4% during the 2nd quarter. Summit Financial Strategies Inc. now owns 1,046 shares of the aerospace company’s stock worth $309,000 after buying an additional 170 shares during the period. Arthur M. Cohen & Associates LLC raised its holdings in Lockheed Martin by 4.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 3,977 shares of the aerospace company’s stock worth $1,376,000 after buying an additional 171 shares during the period. Finally, LVW Advisors LLC raised its holdings in Lockheed Martin by 12.2% during the 3rd quarter. LVW Advisors LLC now owns 1,597 shares of the aerospace company’s stock worth $552,000 after buying an additional 174 shares during the period. 77.63% of the stock is owned by institutional investors.

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About Lockheed Martin (NYSE:LMT)

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.

Read More: Return on Equity (ROE)

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