Lockheed Martin (NYSE:LMT) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm presently has a $348.52 price objective on the aerospace company’s stock. Vetr‘s price objective would indicate a potential upside of 11.72% from the company’s previous close.
A number of other equities analysts also recently commented on the company. Credit Suisse Group restated a “neutral” rating and issued a $308.00 target price (up from $300.00) on shares of Lockheed Martin in a research note on Wednesday, October 25th. Stifel Nicolaus lifted their target price on Lockheed Martin from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Morgan Stanley began coverage on Lockheed Martin in a research note on Tuesday, August 8th. They issued an “overweight” rating and a $342.00 target price for the company. Cowen restated a “hold” rating and issued a $320.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 25th. Finally, BidaskClub upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $321.90.
Lockheed Martin (NYSE:LMT) opened at $311.97 on Tuesday. The company has a market capitalization of $89,660.00, a PE ratio of 24.51, a P/E/G ratio of 2.97 and a beta of 0.58. Lockheed Martin has a 52 week low of $245.50 and a 52 week high of $322.19. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). The firm had revenue of $12.17 billion during the quarter, compared to analyst estimates of $12.83 billion. Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.61 earnings per share. analysts anticipate that Lockheed Martin will post 13.12 EPS for the current fiscal year.
Lockheed Martin declared that its Board of Directors has initiated a stock buyback program on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $313.75, for a total transaction of $627,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel F. Akerson bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were purchased at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the acquisition, the director now owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.
An institutional investor recently bought a new position in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new position in shares of Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.94% of the stock is currently owned by institutional investors.
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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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