Lockheed Martin (NYSE:LMT) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday. The brokerage presently has a $348.52 price target on the aerospace company’s stock. Vetr‘s price target indicates a potential upside of 12.38% from the stock’s current price.
Several other brokerages also recently commented on LMT. Zacks Investment Research raised Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $308.00 price objective (up previously from $300.00) on shares of Lockheed Martin in a research report on Wednesday, October 25th. Royal Bank Of Canada cut their price objective on Lockheed Martin from $327.00 to $316.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 25th. Stifel Nicolaus upped their price objective on Lockheed Martin from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Cowen reaffirmed a “hold” rating and issued a $320.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $321.90.
Lockheed Martin (NYSE:LMT) traded down $1.64 during midday trading on Tuesday, hitting $310.14. The stock had a trading volume of 1,170,635 shares, compared to its average volume of 1,034,706. The company has a market cap of $89,350.00, a P/E ratio of 24.65, a P/E/G ratio of 2.99 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 0.95 and a debt-to-equity ratio of 6.56. Lockheed Martin has a 52-week low of $245.50 and a 52-week high of $322.19.
Lockheed Martin announced that its Board of Directors has authorized a stock buyback program on Thursday, September 28th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Director Daniel F. Akerson bought 2,500 shares of the stock in a transaction on Wednesday, October 25th. The stock was acquired at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the acquisition, the director now owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new position in Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors own 78.94% of the company’s stock.
WARNING: “Vetr Upgrades Lockheed Martin (LMT) to Strong-Buy” was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2017/12/06/vetr-upgrades-lockheed-martin-lmt-to-strong-buy.html.
About Lockheed Martin
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.
Receive News & Ratings for Lockheed Martin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.