Shares of Lockheed Martin Co. (NYSE:LMT) have been assigned an average rating of “Buy” from the twenty-four analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $362.44.
Several research firms have recently issued reports on LMT. Credit Suisse Group upped their price target on Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Zacks Investment Research cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a research report on Thursday, October 11th. Goldman Sachs Group raised Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and boosted their price objective for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th.
LMT opened at $277.73 on Friday. The stock has a market cap of $76.95 billion, a PE ratio of 20.83, a P/E/G ratio of 2.31 and a beta of 0.96. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $363.00. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 13.46.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.31 by $0.83. The company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.24 EPS. On average, equities research analysts forecast that Lockheed Martin will post 17.74 earnings per share for the current year.
Lockheed Martin declared that its board has approved a stock repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Indiana Trust & Investment Management CO lifted its stake in shares of Lockheed Martin by 5.7% in the 4th quarter. Indiana Trust & Investment Management CO now owns 872 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 47 shares during the period. Carroll Financial Associates Inc. raised its stake in Lockheed Martin by 9.9% during the 4th quarter. Carroll Financial Associates Inc. now owns 542 shares of the aerospace company’s stock worth $145,000 after buying an additional 49 shares during the period. North Star Investment Management Corp. raised its stake in Lockheed Martin by 43.5% during the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock worth $43,000 after buying an additional 50 shares during the period. Gulf International Bank UK Ltd raised its stake in Lockheed Martin by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 21,731 shares of the aerospace company’s stock worth $5,690,000 after buying an additional 60 shares during the period. Finally, Diversified Trust Co raised its stake in Lockheed Martin by 5.5% during the 3rd quarter. Diversified Trust Co now owns 1,353 shares of the aerospace company’s stock worth $468,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.
Lockheed Martin Company Profile
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.
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