Lockheed Martin Co. (LMT) Receives $362.44 Consensus Target Price from Analysts

Shares of Lockheed Martin Co. (NYSE:LMT) have earned an average recommendation of “Buy” from the twenty-four brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $362.44.

LMT has been the subject of several research analyst reports. Vertical Group upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley set a $386.00 target price on Lockheed Martin and gave the company a “buy” rating in a report on Thursday, October 11th. Barclays lowered their target price on Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 4th. ValuEngine lowered Lockheed Martin from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Finally, Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research note on Thursday.

In related news, VP Bruce L. Tanner sold 11,203 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the completion of the transaction, the vice president now owns 79,770 shares in the company, valued at approximately $24,608,247.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. raised its stake in shares of Lockheed Martin by 43.5% in 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 in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Lockheed Martin in the 4th quarter worth $48,000. Canton Hathaway LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter worth $104,000. Amussen Hunsaker Associates LLC raised its stake in shares of Lockheed Martin by 159.1% in the 3rd quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock worth $118,000 after buying an additional 210 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Lockheed Martin by 9.9% in 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 in the last quarter. 77.66% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin stock opened at $277.73 on Friday. Lockheed Martin has a 12 month low of $241.18 and a 12 month high of $363.00. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91. The company has a market cap of $76.95 billion, a PE ratio of 20.83, a P/E/G ratio of 2.31 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.24 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin will post 17.74 EPS for the current fiscal year.

Lockheed Martin declared that its board has initiated a share buyback plan on Thursday, September 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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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