Barclays Boosts Lockheed Martin (LMT) Price Target to $370.00

Lockheed Martin (NYSE:LMT) had its target price hoisted by research analysts at Barclays from $340.00 to $370.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Barclays‘s target price indicates a potential upside of 10.06% from the company’s current price.

LMT has been the subject of several other research reports. ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Bank of America restated a “buy” rating and set a $390.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 30th. Morgan Stanley upped their price target on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 13th. Credit Suisse Group restated a “hold” rating and set a $297.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 23rd. Finally, UBS Group increased their price objective on shares of Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $355.13.

LMT opened at $336.17 on Thursday. Lockheed Martin has a twelve month low of $241.18 and a twelve month high of $351.35. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. The stock has a market cap of $94.76 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.33 and a beta of 1.04.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The firm had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. During the same quarter in the prior year, the firm earned $4.02 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin will post 20.53 earnings per share for the current fiscal year.

In other news, Chairman Marillyn A. Hewson sold 59,434 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total value of $18,222,464.40. Following the completion of the sale, the chairman now owns 109,531 shares of the company’s stock, valued at approximately $33,582,204.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Burritt sold 2,100 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total transaction of $693,441.00. Following the completion of the sale, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,949 shares of company stock valued at $22,403,743. 0.35% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its position in shares of Lockheed Martin by 7.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 204,116 shares of the aerospace company’s stock worth $70,617,000 after purchasing an additional 14,151 shares during the period. Vanguard Group Inc boosted its position in shares of Lockheed Martin by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after purchasing an additional 199,456 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Lockheed Martin by 7.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 13,587 shares of the aerospace company’s stock worth $3,558,000 after purchasing an additional 947 shares during the period. Founders Capital Management LLC boosted its position in shares of Lockheed Martin by 0.6% during the 4th quarter. Founders Capital Management LLC now owns 17,603 shares of the aerospace company’s stock worth $4,609,000 after purchasing an additional 102 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Lockheed Martin by 110.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,418 shares of the aerospace company’s stock worth $4,822,000 after purchasing an additional 9,677 shares during the period. 78.10% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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