Lockheed Martin Co. (NYSE:LMT) has received an average rating of “Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $323.57.
LMT has been the topic of a number of research analyst reports. Vetr upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $326.32 price objective on the stock in a report on Tuesday, September 12th. Cowen restated a “hold” rating and set a $310.00 price objective (up from $295.00) on shares of Lockheed Martin in a report on Thursday, September 14th. Deutsche Bank restated a “buy” rating and set a $340.00 price objective (up from $305.00) on shares of Lockheed Martin in a report on Monday, October 2nd. Zacks Investment Research lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Buckingham Research lifted their price target on shares of Lockheed Martin from $316.00 to $348.00 and gave the company a “buy” rating in a research note on Thursday, October 5th.
In other Lockheed Martin news, insider Dale P. Bennett sold 2,000 shares of Lockheed Martin 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 document filed with the SEC, which is available through this hyperlink. Also, Director Daniel F. Akerson purchased 2,500 shares of the stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the purchase, the director now directly owns 7,432 shares in the company, valued at approximately $2,318,932.64. The disclosure for this purchase can be found here. 0.39% of the stock is currently owned by insiders.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors and hedge funds own 78.81% of the company’s stock.
Shares of Lockheed Martin (LMT) traded up $2.96 during trading hours on Monday, hitting $329.68. 1,141,200 shares of the company were exchanged, compared to its average volume of 1,010,000. Lockheed Martin has a fifty-two week low of $248.00 and a fifty-two week high of $330.18. The company has a current ratio of 1.32, a quick ratio of 0.95 and a debt-to-equity ratio of 6.56. The firm has a market capitalization of $94,530.00, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 3.05 and a beta of 0.58.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.02). Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The company had revenue of $12.17 billion for the quarter, compared to analyst estimates of $12.83 billion. During the same quarter in the previous year, the business earned $3.61 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. equities analysts predict that Lockheed Martin will post 13.11 earnings per share for the current year.
Lockheed Martin announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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.
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