Lockheed Martin (NYSE:LMT) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Lockheed Martin (NYSE:LMT – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on LMT. Credit Suisse Group raised shares of Lockheed Martin from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $427.00 to $510.00 in a research report on Monday, February 6th. DZ Bank raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $523.00 price target on the stock in a research report on Monday, January 30th. The Goldman Sachs Group cut Lockheed Martin from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $388.00 to $332.00 in a research report on Friday, January 13th. Jefferies Financial Group upped their target price on Lockheed Martin from $500.00 to $525.00 in a research report on Monday, December 5th. Finally, Citigroup began coverage on Lockheed Martin in a report on Thursday, December 8th. They issued a “buy” rating and a $546.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $490.43.

Lockheed Martin Stock Down 1.6 %

Shares of LMT traded down $7.37 during mid-day trading on Thursday, hitting $465.87. The company’s stock had a trading volume of 6,525,176 shares, compared to its average volume of 1,539,201. The firm has a market capitalization of $118.94 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.60 and a beta of 0.68. Lockheed Martin has a 52-week low of $373.67 and a 52-week high of $498.95. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 1.67. The company’s 50-day moving average is $467.37 and its 200-day moving average is $457.85.

Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.41 by $0.38. The business had revenue of $18.99 billion for the quarter, compared to the consensus estimate of $18.25 billion. Lockheed Martin had a return on equity of 68.01% and a net margin of 8.69%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $7.47 EPS. On average, equities research analysts forecast that Lockheed Martin will post 26.86 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In related news, EVP Timothy S. Cahill sold 2,534 shares of Lockheed Martin stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $479.44, for a total value of $1,214,900.96. Following the completion of the transaction, the executive vice president now owns 10,460 shares in the company, valued at approximately $5,014,942.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John Donovan purchased 556 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was bought at an average price of $451.20 per share, with a total value of $250,867.20. Following the acquisition, the director now owns 2,324 shares in the company, valued at $1,048,588.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy S. Cahill sold 2,534 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the transaction, the executive vice president now owns 10,460 shares of the company’s stock, valued at approximately $5,014,942.40. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of the company. Grey Fox Wealth Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at $27,000. Okabena Investment Services Inc. purchased a new position in shares of Lockheed Martin in the fourth quarter worth about $28,000. Mendota Financial Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $29,000. Coppell Advisory Solutions Corp. purchased a new position in Lockheed Martin in the 4th quarter worth approximately $31,000. Finally, IMA Wealth Inc. boosted its holdings in shares of Lockheed Martin by 41.8% during the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 23 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Company Profile

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