Lockheed Martin (LMT) Stock Rating Upgraded by Vertical Group

Lockheed Martin (NYSE:LMT) was upgraded by equities researchers at Vertical Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other brokerages have also issued reports on LMT. Credit Suisse Group raised their target price on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Zacks Investment Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Morgan Stanley set a $386.00 target price on shares of Lockheed Martin and gave the stock a “buy” rating in a research report on Thursday, October 11th. Goldman Sachs Group upgraded shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and raised their target price for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $358.60.

Shares of Lockheed Martin stock opened at $277.73 on Thursday. The company has a market capitalization of $76.95 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.31 and a beta of 0.96. Lockheed Martin has a 52 week low of $241.18 and a 52 week high of $363.00. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $3.24 earnings per share. Analysts anticipate that Lockheed Martin will post 17.74 EPS for the current fiscal year.

Lockheed Martin announced that its board has approved a share repurchase plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the sale, the vice president now owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO lifted its holdings in Lockheed Martin by 5.7% in the fourth quarter. Indiana Trust & Investment Management CO now owns 872 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 47 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of Lockheed Martin by 9.9% during the 4th quarter. Carroll Financial Associates Inc. now owns 542 shares of the aerospace company’s stock worth $145,000 after buying an additional 49 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Lockheed Martin by 43.5% during the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock worth $43,000 after buying an additional 50 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Lockheed Martin by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 21,731 shares of the aerospace company’s stock worth $5,690,000 after buying an additional 60 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Lockheed Martin by 5.5% during the 3rd quarter. Diversified Trust Co now owns 1,353 shares of the aerospace company’s stock worth $468,000 after buying an additional 70 shares during the last quarter. 77.66% of the stock is owned by institutional investors.

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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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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