Lockheed Martin (NYSE:LMT) Lowered to “Buy” Rating by StockNews.com

by · The Markets Daily

StockNews.com cut shares of Lockheed Martin (NYSE:LMT – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

A number of other research firms also recently issued reports on LMT. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a research report on Wednesday, April 23rd. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

View Our Latest Stock Report on Lockheed Martin

Lockheed Martin Price Performance

LMT opened at $471.54 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $110.48 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company’s 50 day simple moving average is $460.04 and its 200-day simple moving average is $485.29. Lockheed Martin has a one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Northern Trust Corp increased its holdings in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. raised its position in Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after acquiring an additional 318,007 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after acquiring an additional 1,986,600 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

(Get Free Report)

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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