Lockheed Martin (LMT) Raised to “Buy” at Vertical Research
Vertical Research upgraded shares of Lockheed Martin (NYSE:LMT) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $340.00 target price on the aerospace company’s stock.
Several other research firms have also commented on LMT. Vertical Group raised Lockheed Martin from a hold rating to a buy rating in a research report on Thursday. Morgan Stanley set a $386.00 price target on Lockheed Martin and gave the stock a buy rating in a research report on Thursday, October 11th. Barclays reduced their price target on Lockheed Martin from $369.00 to $325.00 and set an equal weight rating for the company in a research report on Tuesday, December 4th. ValuEngine lowered Lockheed Martin from a hold rating to a sell rating in a research report on Tuesday, December 25th. Finally, JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $395.00 to $370.00 and set a neutral rating on the stock in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin presently has a consensus rating of Buy and a consensus target price of $358.60.
LMT opened at $277.73 on Thursday. The firm has a market capitalization of $76.95 billion, a PE ratio of 20.83, a P/E/G ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91. Lockheed Martin has a 12 month low of $241.18 and a 12 month high of $363.00.
Lockheed Martin declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, VP Bruce L. Tanner sold 11,203 shares of the stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now directly owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Indiana Trust & Investment Management CO increased its holdings in shares of Lockheed Martin by 5.7% in the fourth quarter. Indiana Trust & Investment Management CO now owns 872 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 47 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Lockheed Martin by 9.9% in the fourth quarter. Carroll Financial Associates Inc. now owns 542 shares of the aerospace company’s stock worth $145,000 after buying an additional 49 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of Lockheed Martin by 43.5% in the fourth quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock worth $43,000 after buying an additional 50 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Lockheed Martin by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 21,731 shares of the aerospace company’s stock worth $5,690,000 after buying an additional 60 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Lockheed Martin by 5.5% in the third quarter. Diversified Trust Co now owns 1,353 shares of the aerospace company’s stock worth $468,000 after buying an additional 70 shares during the last quarter. 77.66% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Company Profile
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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