Lockheed Martin Corporation (LMT) Downgraded by Vetr Inc.
Lockheed Martin Corporation (NYSE:LMT) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They currently have a $349.96 target price on the aerospace company’s stock. Vetr‘s price objective suggests a potential upside of 12.47% from the stock’s previous close.
Other analysts have also recently issued reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $320.00 price target (up from $300.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. Argus reissued a “buy” rating and issued a $320.00 price target (up from $100.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Zacks Investment Research raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Thursday, July 27th. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $340.00 price target (up from $305.00) on shares of Lockheed Martin Corporation in a research report on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $322.13.
Lockheed Martin Corporation (NYSE LMT) traded up $0.09 during trading on Monday, reaching $311.17. The company’s stock had a trading volume of 630,800 shares, compared to its average volume of 1,037,973. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32. Lockheed Martin Corporation has a fifty-two week low of $245.50 and a fifty-two week high of $322.19. The company has a market cap of $89,730.00, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.
Lockheed Martin Corporation (NYSE:LMT) last issued its quarterly earnings results 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 Corporation had a return on equity of 221.41% and a net margin of 7.31%. The company had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities analysts forecast that Lockheed Martin Corporation will post 13.09 EPS for the current year.
Lockheed Martin Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
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In other Lockheed Martin Corporation news, insider Orlando D. Carvalho sold 8,870 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $307.95, for a total transaction of $2,731,516.50. Following the completion of the sale, the insider now directly owns 27,728 shares in the company, valued at approximately $8,538,837.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brian P. Colan sold 350 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $107,166.50. The disclosure for this sale 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 Corporation stock. Buckingham Capital Management Inc. bought a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. 79.25% of the stock is currently owned by institutional investors.
About Lockheed Martin Corporation
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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