Lockheed Martin Corporation (NYSE:LMT) Stock Rating Reaffirmed by Cowen and Company
Lockheed Martin Corporation (NYSE:LMT)‘s stock had its “hold” rating reissued by research analysts at Cowen and Company in a report issued on Monday. They currently have a $295.00 target price on the aerospace company’s stock. Cowen and Company’s target price points to a potential downside of 2.88% from the company’s current price.
The analysts wrote, “LMT’s recompete win of SOF GLSS is a nice plus given it accounts for an estimated.””
Several other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research cut shares of Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stifel Nicolaus upped their price target on shares of Lockheed Martin Corporation from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Royal Bank Of Canada restated a “hold” rating and issued a $263.00 price target on shares of Lockheed Martin Corporation in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $240.00 price target on shares of Lockheed Martin Corporation in a research report on Monday, June 12th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Lockheed Martin Corporation presently has an average rating of “Hold” and an average target price of $291.15.
Shares of Lockheed Martin Corporation (NYSE:LMT) opened at 303.75 on Monday. The firm has a market cap of $87.48 billion, a price-to-earnings ratio of 17.62 and a beta of 0.60. Lockheed Martin Corporation has a 12-month low of $228.50 and a 12-month high of $307.10. The firm’s 50-day moving average is $288.81 and its 200-day moving average is $274.31.
Lockheed Martin Corporation (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The firm had revenue of $12.69 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the prior year, the company posted $3.32 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Analysts predict that Lockheed Martin Corporation will post $12.63 earnings per share for the current fiscal year.
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In related news, Chairman Marillyn A. Hewson sold 26,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $290.53, for a total transaction of $7,553,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 10,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $290.11, for a total transaction of $2,901,100.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in Lockheed Martin Corporation during the second quarter worth $103,000. Arrow Financial Corp raised its position in Lockheed Martin Corporation by 3.5% in the second quarter. Arrow Financial Corp now owns 439 shares of the aerospace company’s stock worth $109,000 after buying an additional 15 shares during the period. Signaturefd LLC raised its position in Lockheed Martin Corporation by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the aerospace company’s stock worth $135,000 after buying an additional 71 shares during the period. First Personal Financial Services raised its position in Lockheed Martin Corporation by 163.1% in the second quarter. First Personal Financial Services now owns 542 shares of the aerospace company’s stock worth $135,000 after buying an additional 336 shares during the period. Finally, Reilly Financial Advisors LLC raised its position in Lockheed Martin Corporation by 13.1% in the second quarter. Reilly Financial Advisors LLC now owns 588 shares of the aerospace company’s stock worth $146,000 after buying an additional 68 shares during the period. 79.62% of the stock is currently owned by institutional investors and hedge funds.
About Lockheed Martin Corporation
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.
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