Credit Suisse Group restated their neutral rating on shares of Lockheed Martin (NYSE:LMT) in a report published on Friday.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Lockheed Martin from a hold rating to a buy rating and set a $373.00 price target on the stock in a research note on Friday. Vetr cut Lockheed Martin from a strong-buy rating to a buy rating and set a $349.96 price target on the stock. in a research note on Monday, November 20th. Cowen reissued a hold rating and issued a $320.00 price target on shares of Lockheed Martin in a research note on Wednesday, October 25th. Wells Fargo & Co cut Lockheed Martin from an outperform rating to a market perform rating in a research note on Tuesday. Finally, Bank of America set a $360.00 price target on Lockheed Martin and gave the stock a buy rating in a research note on Friday, October 27th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $327.10.
Shares of Lockheed Martin (NYSE:LMT) traded down $1.00 on Friday, reaching $332.00. The company had a trading volume of 1,478,147 shares, compared to its average volume of 1,020,000. The stock has a market cap of $95,200.00, a PE ratio of 26.93, a P/E/G ratio of 3.27 and a beta of 0.58. Lockheed Martin has a 1 year low of $248.00 and a 1 year high of $336.67. 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 (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). The company had revenue of $12.17 billion during the quarter, compared to analysts’ expectations of $12.83 billion. Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 EPS. equities analysts anticipate that Lockheed Martin will post 13.11 EPS for the current year.
Lockheed Martin announced that its Board of Directors has approved a share buyback program on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 2.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other Lockheed Martin news, Director Daniel F. Akerson acquired 2,500 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dale P. Bennett sold 2,000 shares of the firm’s stock in a transaction dated 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. Company 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. purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 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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