Vertical Research upgraded shares of Lockheed Martin (NYSE:LMT) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $340.00 target price on the aerospace company’s stock.
A number of other research firms have also recently weighed in on LMT. Vertical Group raised Lockheed Martin from a hold rating to a buy rating in a research report on Thursday. Morgan Stanley set a $386.00 target price on Lockheed Martin and gave the company a buy rating in a research note on Thursday, October 11th. Barclays decreased their target price on Lockheed Martin from $369.00 to $325.00 and set an equal weight rating on the stock in a research note on Tuesday, December 4th. ValuEngine downgraded Lockheed Martin from a hold rating to a sell rating in a research note on Tuesday, December 25th. Finally, JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $395.00 to $370.00 and set a neutral rating on the stock in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $358.60.
LMT stock opened at $277.73 on Thursday. Lockheed Martin has a twelve month low of $241.18 and a twelve month high of $363.00. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. 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 (NYSE:LMT) last posted its quarterly earnings data 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 return on equity of 2,680.55% and a net margin of 5.78%. The firm had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. During the same period in the previous year, the firm earned $3.24 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin will post 17.74 earnings per share for the current fiscal year.
Lockheed Martin announced that its board has initiated a share buyback program on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. increased its stake in Lockheed Martin by 43.5% in the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock worth $43,000 after acquiring an additional 50 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $48,000. Canton Hathaway LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $104,000. Amussen Hunsaker Associates LLC increased its position in shares of Lockheed Martin by 159.1% during the 3rd quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock valued at $118,000 after purchasing an additional 210 shares during the last quarter. Finally, Whitener Capital Management Inc. bought a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $169,000. 77.66% of the stock is currently owned by institutional investors and hedge funds.
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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