Lockheed Martin (NYSE:LMT) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday.
A number of other equities analysts have also recently commented on the company. Bank of America set a $360.00 price target on Lockheed Martin and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada set a $314.00 price target on Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday, November 15th. Buckingham Research boosted their price target on Lockheed Martin from $316.00 to $348.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research cut Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Stifel Nicolaus boosted their price target on Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $323.67.
Lockheed Martin (LMT) opened at $336.25 on Tuesday. The firm has a market capitalization of $96,414.38, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 3.33 and a beta of 0.58. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. Lockheed Martin has a fifty-two week low of $248.00 and a fifty-two week high of $336.35.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($0.02). The company had revenue of $12.17 billion during the quarter, compared to analyst estimates of $12.83 billion. Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. Lockheed Martin’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.61 earnings per share. equities research analysts anticipate that Lockheed Martin will post 13.11 earnings per share for the current fiscal year.
Lockheed Martin announced that its Board of Directors has authorized a share repurchase program on Thursday, September 28th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Daniel F. Akerson acquired 2,500 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired 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 approximately $2,318,932.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $313.75, for a total value of $627,500.00. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.
An institutional investor recently bought a new position in Lockheed Martin stock. Buckingham Capital Management Inc. acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.81% of the stock is currently owned by institutional investors and hedge funds.
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Lockheed Martin 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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