RBC Capital Downgrades Lockheed Martin Corp. to Sector Perform (LMT)
Lockheed Martin Corp. (NYSE:LMT) was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $126.00 target price on the stock. RBC Capital’s price target would suggest a potential upside of 1.39% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG downgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a “neutral” rating to a “sell” rating in a research note to investors on Friday, August 16th. They now have a $113.00 price target on the stock, up previously from $101.00. Separately, analysts at Barclays Capital raised their price target on shares of Lockheed Martin Corp. (NYSE:LMT) from $95.00 to $125.00 in a research note to investors on Monday, August 12th. They now have an “equal weight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Lockheed Martin Corp. (NYSE:LMT) from $105.00 to $120.00 in a research note to investors on Thursday, July 25th.
One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $121.93.
Lockheed Martin Corp. (NYSE:LMT) opened at 124.27 on Thursday. Lockheed Martin Corp. has a 1-year low of $85.88 and a 1-year high of $126.73. The stock has a 50-day moving average of $121.7 and a 200-day moving average of $105.3. The company has a market cap of $39.642 billion and a P/E ratio of 13.94.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings data on Tuesday, July 23rd. The company reported $2.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.20 by $0.44. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.12 billion. During the same quarter last year, the company posted $2.38 earnings per share. Lockheed Martin Corp.’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Corp. will post $9.47 earnings per share for the current fiscal year.
In other Lockheed Martin Corp. news, CFO Bruce Tanner sold 64,400 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $123.81, for a total value of $7,973,364.00. Following the transaction, the chief financial officer now directly owns 27,797 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Lockheed Martin Corporation, incorporated on August 29, 1994, is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.
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