Lockheed Martin Corporation (NYSE:LMT) Upgraded to “Hold” by Zacks Investment Research

Lockheed Martin Corporation (NYSE:LMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, October 25th.

According to Zacks, “Lockheed Martin's third-quarter 2017 earnings as well as revenues missed the respective Zacks Consensus Estimate. However, year-over-year results were impressive. Being the largest defense contractor in the world, Lockheed Martin witnesses strong demand for its high-end military equipments in both domestic as well as overseas markets. The latest $3.8 billion deal signed with the Bahrain government is expected to strongly boost its growth. However, the F-35 program, despite being a prime defense project for the U.S. government, has been facing criticism for being overtly expensive, for past few years. Moreover, the company's limited commercial exposure and almost full government dependency may prove fatal in maintaining its margins and bottom line. The company underperformed the broader industry over a year.”

Several other analysts have also recently issued reports on the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $265.00 price objective on shares of Lockheed Martin Corporation in a research note on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $320.00 price objective (up previously from $300.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Argus reaffirmed a “buy” rating and set a $320.00 price objective (up previously from $100.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Royal Bank of Canada dropped their price target on shares of Lockheed Martin Corporation from $327.00 to $316.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 25th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin Corporation has a consensus rating of “Buy” and a consensus target price of $322.73.

Lockheed Martin Corporation (NYSE LMT) opened at $311.17 on Wednesday. The firm has a market cap of $89,197.28, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Lockheed Martin Corporation has a 1 year low of $245.50 and a 1 year high of $322.19. The company has a debt-to-equity ratio of 6.56, a current ratio of 1.32 and a quick ratio of 0.95.

Lockheed Martin Corporation (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.02). Lockheed Martin Corporation had a return on equity of 221.41% and a net margin of 7.31%. The firm had revenue of $12.17 billion during the quarter, compared to analyst estimates of $12.83 billion. During the same quarter last year, the company posted $3.61 EPS. The company’s revenue was up 5.4% on a year-over-year basis. sell-side analysts expect that Lockheed Martin Corporation will post 13.09 EPS for the current year.

Lockheed Martin Corporation 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 outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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In other news, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel F. Akerson bought 2,500 shares of the stock in a transaction dated Wednesday, October 25th. The stock was 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. Company insiders own 0.39% of the company’s stock.

An institutional investor recently bought a new position in Lockheed Martin Corporation stock. Buckingham Capital Management Inc. bought a new stake in Lockheed Martin Corporation (NYSE:LMT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors and hedge funds own 79.35% of the company’s stock.

Lockheed Martin Corporation 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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Analyst Recommendations for Lockheed Martin Corporation (NYSE:LMT)

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