Lockheed Martin (NYSE:LMT) had its price objective increased by Morgan Stanley from $324.00 to $356.00 in a report released on Friday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price objective indicates a potential upside of 1.98% from the company’s current price.
Several other brokerages also recently commented on LMT. ValuEngine raised 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 $400.00 price objective (up from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. UBS Group raised their price objective on Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Cowen reiterated a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $357.13.
Shares of Lockheed Martin stock opened at $349.08 on Friday. The stock has a market cap of $97.62 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.40 and a beta of 0.96. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17. Lockheed Martin has a 12-month low of $241.18 and a 12-month high of $358.63.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $1.70. The firm had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.02 earnings per share. On average, analysts predict that Lockheed Martin will post 20.53 EPS for the current fiscal year.
In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the completion of the sale, the director now owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of LMT. Advisors Preferred LLC bought a new position in shares of Lockheed Martin during the first quarter valued at approximately $26,000. Heritage Wealth Advisors grew its stake in shares of Lockheed Martin by 304.3% in the first quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 70 shares during the last quarter. Bremer Trust National Association purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $25,000. ERTS Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $26,000. Finally, Lake Point Wealth Management purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $26,000. 78.06% 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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