Lockheed Martin (NYSE:LMT) had its price objective boosted by stock analysts at Buckingham Research from $405.00 to $450.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Buckingham Research’s price objective indicates a potential upside of 17.84% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently commented on the company. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Barclays reiterated a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 9th. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Finally, Morgan Stanley reduced their price objective on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $371.79.
Lockheed Martin stock traded up $3.11 during mid-day trading on Thursday, reaching $381.86. 772,430 shares of the stock traded hands, compared to its average volume of 1,168,903. The stock has a market capitalization of $105.39 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. Lockheed Martin has a 12-month low of $241.18 and a 12-month high of $399.96. The business’s 50-day moving average is $380.57 and its 200-day moving average is $364.83.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.64. The company had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. Lockheed Martin’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.14 earnings per share. Equities analysts anticipate that Lockheed Martin will post 21.57 EPS for the current fiscal year.
Lockheed Martin announced that its Board of Directors has approved a share repurchase program on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Krane Funds Advisors LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $26,000. Accurate Investment Solutions Inc. boosted its stake in shares of Lockheed Martin by 257.1% in the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 54 shares during the period. Paragon Capital Management LLC boosted its stake in shares of Lockheed Martin by 406.7% in the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 61 shares during the period. KCS Wealth Advisory bought a new position in shares of Lockheed Martin in the third quarter worth about $37,000. Finally, MRA Associates USA LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $38,000. Institutional investors and hedge funds own 78.57% of the company’s stock.
About Lockheed Martin
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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