Lockheed Martin (LMT) Rating Reiterated by Credit Suisse Group

Lockheed Martin (NYSE:LMT)‘s stock had its “neutral” rating reiterated by equities researchers at Credit Suisse Group in a note issued to investors on Friday.

A number of other equities analysts have also recently weighed in on LMT. Deutsche Bank restated a “buy” rating and set a $340.00 price objective (up from $305.00) on shares of Lockheed Martin in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Vetr upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating and set a $358.97 price objective for the company in a research report on Wednesday, October 4th. Buckingham Research upped their price objective on shares of Lockheed Martin from $316.00 to $348.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Stifel Nicolaus upped their price objective on shares of Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Lockheed Martin presently has an average rating of “Buy” and an average target price of $327.10.

Shares of Lockheed Martin (LMT) opened at $332.00 on Friday. Lockheed Martin has a twelve month low of $248.00 and a twelve month high of $336.67. The stock has a market cap of $95,482.49, a price-to-earnings ratio of 26.71, a P/E/G ratio of 3.27 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 0.95 and a debt-to-equity ratio of 6.56.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The firm had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. During the same period last year, the company posted $3.61 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. analysts anticipate that Lockheed Martin will post 13.11 EPS for the current fiscal year.

Lockheed Martin announced that its Board of Directors has approved a share buyback plan on Thursday, September 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other Lockheed Martin news, Director Daniel F. Akerson bought 2,500 shares of Lockheed Martin stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the transaction, the director now directly owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Dale P. Bennett sold 2,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $313.75, for a total transaction of $627,500.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors own 78.81% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/20/lockheed-martin-lmt-rating-reiterated-by-credit-suisse-group.html.

About Lockheed Martin

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.

Analyst Recommendations for Lockheed Martin (NYSE:LMT)

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply