Vetr Inc. Downgrades Lockheed Martin Corporation (LMT) to Buy
Lockheed Martin Corporation (NYSE:LMT) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $349.96 price objective on the aerospace company’s stock. Vetr‘s price objective would suggest a potential upside of 10.42% from the company’s previous close.
A number of other equities analysts have also issued reports on LMT. Zacks Investment Research raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research report on Thursday, July 27th. BidaskClub lowered Lockheed Martin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Morgan Stanley assumed coverage on Lockheed Martin Corporation in a research report on Tuesday, August 8th. They set an “overweight” rating and a $342.00 price target on the stock. Cowen and Company reissued a “hold” rating and set a $295.00 price target on shares of Lockheed Martin Corporation in a research report on Monday, August 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $265.00 price target on shares of Lockheed Martin Corporation in a research report on Tuesday, August 22nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $322.00.
Lockheed Martin Corporation (NYSE LMT) opened at $316.94 on Monday. Lockheed Martin Corporation has a 52-week low of $245.50 and a 52-week high of $322.19. The stock has a market capitalization of $90,880.00, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 2.95 and a beta of 0.58. The company has a debt-to-equity ratio of 6.56, a current ratio of 1.32 and a quick ratio of 0.95.
Lockheed Martin Corporation (NYSE:LMT) last announced its 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 Corporation had a net margin of 7.31% and a return on equity of 221.41%. The business had revenue of $12.17 billion during the quarter, compared to analyst estimates of $12.83 billion. During the same period in the previous year, the company earned $3.61 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. equities research analysts anticipate that Lockheed Martin Corporation will post 13.12 earnings per share for the current year.
Lockheed Martin Corporation declared that its Board of Directors has approved a share buyback program on Thursday, September 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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In related news, Director Daniel F. Akerson acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the purchase, the director now directly owns 7,432 shares in the company, valued at $2,318,932.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by corporate insiders.
An institutional investor recently bought a new position in Lockheed Martin Corporation stock. Buckingham Capital Management Inc. acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
About Lockheed Martin Corporation
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.
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