Lockheed Martin (LMT) Upgraded to “Buy” by Vertical Research

Vertical Research upgraded shares of Lockheed Martin (NYSE:LMT) from a hold rating to a buy rating in a report released on Thursday. Vertical Research currently has $340.00 price target on the aerospace company’s stock.

Other equities analysts also recently issued research reports about the company. Vertical Group raised Lockheed Martin from a hold rating to a buy rating in a research report on Thursday. Morgan Stanley lowered Lockheed Martin from an overweight rating to an equal weight rating and set a $300.00 price objective for the company. in a research report on Wednesday. Jefferies Financial Group restated a hold rating and issued a $274.00 target price on shares of Lockheed Martin in a research note on Wednesday. ValuEngine cut shares of Lockheed Martin from a hold rating to a sell rating in a research report on Tuesday, December 25th. Finally, Robert W. Baird reissued a buy rating and set a $326.00 target price on shares of Lockheed Martin in a report on Friday, December 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin currently has a consensus rating of Buy and a consensus target price of $358.60.

Shares of NYSE:LMT traded up $0.23 during trading on Thursday, hitting $277.73. 1,157,746 shares of the stock were exchanged, compared to its average volume of 1,395,996. Lockheed Martin has a 1-year low of $241.18 and a 1-year high of $363.00. The firm has a market capitalization of $76.95 billion, a PE ratio of 20.83, a PEG ratio of 2.31 and a beta of 0.96. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46.

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

Lockheed Martin announced that its Board of Directors has authorized a stock buyback program on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, VP Bruce L. Tanner sold 11,203 shares of the 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 transaction, 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 document filed with the SEC, which is available at the SEC website. 0.35% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in LMT. 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 valued at $43,000 after acquiring an additional 50 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $48,000. Canton Hathaway LLC bought a new position in Lockheed Martin in the 3rd quarter valued at $104,000. Amussen Hunsaker Associates LLC raised its position in shares of Lockheed Martin by 159.1% during the third quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock worth $118,000 after acquiring an additional 210 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its position in shares of Lockheed Martin by 9.9% during the fourth quarter. Carroll Financial Associates Inc. now owns 542 shares of the aerospace company’s stock worth $145,000 after acquiring an additional 49 shares during the last quarter. 77.66% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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