Lockheed Martin Corporation (NYSE:LMT) has been given a $360.00 target price by Bank of America Corporation in a report issued on Friday. The firm presently has a “buy” rating on the aerospace company’s stock. Bank of America Corporation’s price objective suggests a potential upside of 16.88% from the stock’s previous close.
Several other research firms also recently issued reports on LMT. Credit Suisse Group restated a “neutral” rating and set a $308.00 price objective (up previously from $300.00) on shares of Lockheed Martin Corporation in a report on Wednesday, October 25th. Morgan Stanley initiated coverage on shares of Lockheed Martin Corporation in a report on Tuesday, August 8th. They set an “overweight” rating and a $342.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Lockheed Martin Corporation from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Cowen and Company restated a “hold” rating and set a $320.00 price objective on shares of Lockheed Martin Corporation in a report on Wednesday, October 25th. Finally, BidaskClub upgraded shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $319.75.
Shares of Lockheed Martin Corporation (NYSE:LMT) opened at 308.00 on Friday. The firm has a market capitalization of $88.70 billion, a P/E ratio of 17.87 and a beta of 0.59. Lockheed Martin Corporation has a 52 week low of $236.21 and a 52 week high of $322.19. The stock’s 50 day moving average price is $311.36 and its 200 day moving average price is $291.48.
Lockheed Martin Corporation (NYSE:LMT) last announced its earnings results on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. During the same quarter last year, the business earned $3.61 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Corporation will post $13.00 EPS for the current fiscal year.
Lockheed Martin Corporation announced that its board has authorized a share buyback plan on Thursday, September 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Lockheed Martin Corporation news, VP Brian P. Colan sold 350 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $107,166.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel F. Akerson purchased 2,500 shares of Lockheed Martin Corporation stock in a transaction on Wednesday, October 25th. The stock was purchased at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the transaction, the director now owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The disclosure for this purchase can be found here. Insiders own 0.39% of the company’s stock.
Lockheed Martin Corporation 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.
What are top analysts saying about Lockheed Martin Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lockheed Martin Corporation and related companies.