Lockheed Martin (NYSE:LMT) has been assigned a $348.00 price target by equities researchers at Royal Bank of Canada in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 5.87% from the stock’s current price.
A number of other equities research analysts also recently commented on LMT. Deutsche Bank reaffirmed a “buy” rating and issued a $340.00 price objective (up previously from $305.00) on shares of Lockheed Martin in a research report on Monday, October 2nd. Zacks Investment Research downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Vetr raised 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 lifted their price objective on Lockheed Martin from $316.00 to $348.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Stifel Nicolaus boosted their price target on Lockheed Martin from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $333.03.
Shares of Lockheed Martin (NYSE:LMT) traded down $0.30 during trading hours on Tuesday, hitting $328.70. The stock had a trading volume of 1,066,100 shares, compared to its average volume of 1,213,373. The stock has a market capitalization of $94,250.00, a P/E ratio of 26.66, a P/E/G ratio of 3.23 and a beta of 0.58. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32. Lockheed Martin has a twelve month low of $248.00 and a twelve month high of $336.67.
Lockheed Martin announced that its board has initiated a share buyback plan on Thursday, September 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In other Lockheed Martin news, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $313.75, for a total transaction of $627,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of LMT. Americafirst Capital Management LLC acquired a new position in shares of Lockheed Martin during the second quarter worth about $103,000. Arrow Financial Corp lifted its stake in shares of Lockheed Martin by 3.5% during the second quarter. Arrow Financial Corp now owns 439 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 15 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Lockheed Martin by 14.9% during the second quarter. Signaturefd LLC now owns 546 shares of the aerospace company’s stock worth $135,000 after purchasing an additional 71 shares in the last quarter. First Personal Financial Services lifted its stake in shares of Lockheed Martin by 163.1% during the second quarter. First Personal Financial Services now owns 542 shares of the aerospace company’s stock worth $135,000 after purchasing an additional 336 shares in the last quarter. Finally, Reilly Financial Advisors LLC lifted its stake in shares of Lockheed Martin by 13.1% during the second quarter. Reilly Financial Advisors LLC now owns 588 shares of the aerospace company’s stock worth $146,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 78.84% of the company’s stock.
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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.
