Buckingham Research Increases Lockheed Martin Corporation (LMT) Price Target to $348.00
Lockheed Martin Corporation (NYSE:LMT) had its price objective raised by equities research analysts at Buckingham Research from $316.00 to $348.00 in a research report issued on Thursday. The firm presently has a “buy” rating on the aerospace company’s stock. Buckingham Research’s target price suggests a potential upside of 11.18% from the stock’s previous close.
LMT has been the topic of a number of other research reports. Zacks Investment Research downgraded Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $265.00 price objective on shares of Lockheed Martin Corporation in a research note on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $320.00 price objective (up previously from $300.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Finally, Argus reaffirmed a “buy” rating and issued a $320.00 price objective (up previously from $100.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $312.73.
Shares of Lockheed Martin Corporation (NYSE LMT) traded up 0.42% during midday trading on Thursday, reaching $314.34. The company had a trading volume of 418,916 shares. The company has a 50 day moving average of $305.29 and a 200 day moving average of $285.84. The firm has a market capitalization of $90.53 billion, a price-to-earnings ratio of 18.24 and a beta of 0.59. Lockheed Martin Corporation has a 12-month low of $228.50 and a 12-month high of $315.29.
Lockheed Martin Corporation (NYSE:LMT) last posted its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.13. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The company had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company earned $3.32 earnings per share. Lockheed Martin Corporation’s revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Lockheed Martin Corporation will post $12.64 EPS for the current year.
Lockheed Martin Corporation declared that its Board of Directors has approved a share buyback program on Thursday, September 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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In other news, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 10,000 shares of Lockheed Martin Corporation stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $290.11, for a total value of $2,901,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,220 shares of company stock valued at $13,293,563. Company insiders own 0.39% of the company’s stock.
Lockheed Martin Corporation Company Profile
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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