Lockheed Martin (LMT) Upgraded by Vetr to Strong-Buy
Lockheed Martin (NYSE:LMT) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage presently has a $348.52 price objective on the aerospace company’s stock. Vetr‘s price objective would indicate a potential upside of 12.38% from the company’s previous close.
LMT has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Royal Bank Of Canada set a $314.00 target price on shares of Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, November 15th. Credit Suisse Group reiterated a “neutral” rating and set a $308.00 target price (up previously from $300.00) on shares of Lockheed Martin in a research report on Wednesday, October 25th. Deutsche Bank reiterated a “buy” rating and set a $340.00 target price (up previously from $305.00) on shares of Lockheed Martin in a research report on Monday, October 2nd. Finally, Buckingham Research boosted their target price on shares of Lockheed Martin from $316.00 to $348.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $321.90.
Lockheed Martin (NYSE LMT) traded down $1.64 during trading on Tuesday, hitting $310.14. 1,170,635 shares of the company were exchanged, compared to its average volume of 1,034,706. The company has a quick ratio of 0.95, a current ratio of 1.32 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. The firm has a market cap of $89,350.00, a P/E ratio of 24.65, a PEG ratio of 2.99 and a beta of 0.58.
Lockheed Martin announced that its Board of Directors has approved a share buyback plan on Thursday, September 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Lockheed Martin news, Director Daniel F. Akerson purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the purchase, the director now owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company’s stock.
An institutional investor recently bought a new position in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new position in Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to the company in 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.
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Lockheed Martin 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.
To view Vetr’s full report, visit Vetr’s official website.
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