Morgan Stanley Boosts Lockheed Martin (LMT) Price Target to $388.00

Lockheed Martin (NYSE:LMT) had its price target raised by research analysts at Morgan Stanley from $382.00 to $388.00 in a report issued on Friday. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Morgan Stanley’s price target would suggest a potential upside of 9.31% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Co boosted their price objective on shares of Lockheed Martin from $340.00 to $355.00 and gave the company a “market perform” rating in a research report on Tuesday, January 30th. Sanford C. Bernstein reissued a “market perform” rating and issued a $392.00 price objective (up previously from $343.00) on shares of Lockheed Martin in a research report on Tuesday, January 30th. Royal Bank of Canada reissued a “hold” rating on shares of Lockheed Martin in a research report on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and issued a $370.00 price objective on shares of Lockheed Martin in a research report on Tuesday, January 30th. Finally, Credit Suisse Group boosted their price objective on shares of Lockheed Martin from $308.00 to $380.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Lockheed Martin presently has a consensus rating of “Buy” and an average price target of $375.40.

Shares of Lockheed Martin (NYSE LMT) traded down $0.45 during midday trading on Friday, hitting $354.96. 100,440 shares of the company’s stock traded hands, compared to its average volume of 1,548,974. Lockheed Martin has a 12 month low of $263.18 and a 12 month high of $363.00. The stock has a market capitalization of $101,965.91, a P/E ratio of 51.91, a PEG ratio of 3.15 and a beta of 0.73. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of -22.19.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, January 29th. The aerospace company reported $4.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.24. Lockheed Martin had a net margin of 3.92% and a return on equity of 354.55%. The company had revenue of $15.14 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. equities research analysts expect that Lockheed Martin will post 15.47 earnings per share for the current fiscal year.

In related news, Chairman Marillyn A. Hewson sold 19,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $346.74, for a total transaction of $6,588,060.00. Following the completion of the transaction, the chairman now owns 80,478 shares of the company’s stock, valued at $27,904,941.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dale P. Bennett sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $313.75, for a total transaction of $627,500.00. The disclosure for this sale can be found here. Insiders have sold 28,517 shares of company stock valued at $9,905,819 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in LMT. Cambridge Investment Research Advisors Inc. increased its position in shares of Lockheed Martin by 22.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 44,061 shares of the aerospace company’s stock worth $14,146,000 after acquiring an additional 7,950 shares in the last quarter. Green Square Capital LLC increased its position in shares of Lockheed Martin by 31.2% in the fourth quarter. Green Square Capital LLC now owns 30,207 shares of the aerospace company’s stock worth $9,698,000 after acquiring an additional 7,178 shares in the last quarter. Elkfork Partners LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $2,113,000. Certified Advisory Corp acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $1,362,000. Finally, D.B. Root & Company LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $971,000. 78.71% of the stock is owned by institutional investors.

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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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