Lockheed Martin (NYSE:LMT) PT Raised to $450.00

Lockheed Martin (NYSE:LMT) had its target price boosted by equities research analysts at Buckingham Research from $405.00 to $450.00 in a report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the aerospace company’s stock. Buckingham Research’s price target suggests a potential upside of 17.84% from the company’s current price. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued reports about the company. Barclays reissued a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a report on Wednesday, October 9th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. UBS Group raised their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $371.79.

Shares of NYSE LMT traded up $3.11 during trading hours on Thursday, reaching $381.86. 772,430 shares of the stock traded hands, compared to its average volume of 1,168,903. The company has a market capitalization of $105.39 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 3.21. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $399.96. The company’s 50-day simple moving average is $380.57 and its two-hundred day simple moving average is $364.83.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.02 by $0.64. The company had revenue of $15.17 billion for 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 period last year, the firm posted $5.14 EPS. As a group, sell-side analysts forecast that Lockheed Martin will post 21.57 earnings per share for the current fiscal year.

Lockheed Martin announced that its Board of Directors has authorized a share buyback program on Thursday, September 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Several hedge funds have recently modified their holdings of LMT. Bath Savings Trust Co grew its position in shares of Lockheed Martin by 3.5% in the 2nd quarter. Bath Savings Trust Co now owns 1,811 shares of the aerospace company’s stock worth $659,000 after buying an additional 62 shares during the last quarter. Private Trust Co. NA grew its position in shares of Lockheed Martin by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after buying an additional 28 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in shares of Lockheed Martin by 3.5% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 22,544 shares of the aerospace company’s stock worth $8,196,000 after buying an additional 756 shares during the last quarter. Baystate Wealth Management LLC grew its position in shares of Lockheed Martin by 43.8% in the 2nd quarter. Baystate Wealth Management LLC now owns 486 shares of the aerospace company’s stock worth $176,000 after buying an additional 148 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its position in shares of Lockheed Martin by 6.6% in the 2nd quarter. Silverleafe Capital Partners LLC now owns 15,130 shares of the aerospace company’s stock worth $5,500,000 after buying an additional 932 shares during the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.

Lockheed Martin Company Profile

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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