The company successfully attracted investors through its dividend policy
Lockheed Martin Corporation (NYSE:LMT) was assigned Hold from Buy rating by Vetr with a target price of $260.42. Many firms and analysts assigned Buy rating to the company throughout the year 2016. The shares gained a maximum 17.2% last year and benefited the most from the aerospace and defense sector which gained 13%.
Lockheed was able to attract investors through its solid dividend policy and 10% dividend hike. This followed with $2 billion buyback authorization. Lockheed has always been successful in securing contracts from the US Navy and the US Air Force. This has resulted in its defense division profits soaring.
Lockheed stated that it is going to hold a recruitment event today. The event will happen at Destiny USA Mall in New York. It will help to recruit for 100 vacancies that are available at the company. These vacancies belong from the technical and manufacturing positions.
The stock traded at $253.99 rocketing by 0.27% at the closing bell on Wednesday. It traded in the 52-week range of $200.47-$269.90. It has a market capitalization of $75.42 billion. This is massive for investors.
It has a year-over-year (YoY) increase of 16.97%. The return on assets for the trailing 12-month period stands at 7.9%. This comes with a return on equity of 123%. The return on investment is 21.9%. It has a price to earnings (P/E) ratio of 20.73.