Vetr lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research note released on Thursday, January 4th. They currently have $332.40 target price on the aerospace company’s stock.
Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada set a $314.00 price target on shares of Lockheed Martin and gave the company a hold rating in a report on Wednesday, November 15th. Bank of America set a $360.00 price target on shares of Lockheed Martin and gave the company a buy rating in a report on Friday, October 27th. Cowen reaffirmed a hold rating and set a $320.00 price target on shares of Lockheed Martin in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Lockheed Martin from a sell rating to a hold rating in a report on Wednesday, October 25th. Finally, Credit Suisse Group reissued a neutral rating and issued a $308.00 target price (up previously from $300.00) on shares of Lockheed Martin in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $323.67.
Shares of Lockheed Martin (NYSE LMT) traded up $0.08 during midday trading on Thursday, reaching $331.13. 1,150,000 shares of the company traded hands, compared to its average volume of 1,080,000. The company has a debt-to-equity ratio of 6.56, a current ratio of 1.32 and a quick ratio of 0.95. The company has a market capitalization of $94,950.00, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.09 and a beta of 0.58. Lockheed Martin has a 12 month low of $248.00 and a 12 month high of $333.74.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.02). The business had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $12.83 billion. Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 earnings per share. analysts predict that Lockheed Martin will post 13.11 EPS for the current fiscal year.
Lockheed Martin announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel F. Akerson acquired 2,500 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were purchased at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the transaction, the director now directly 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.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.81% of the stock is owned by institutional investors and hedge funds.
About Lockheed Martin
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.
To view Vetr’s full report, visit Vetr’s official website.
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