Lockheed Martin Corporation (LMT) Earns Hold Rating from Cowen and Company
Lockheed Martin Corporation (NYSE:LMT)‘s stock had its “hold” rating reissued by equities research analysts at Cowen and Company in a research note issued to investors on Monday. They presently have a $295.00 price target on the aerospace company’s stock. Cowen and Company’s price target would indicate a potential downside of 2.88% from the stock’s current price.
The analysts wrote, “LMT’s recompete win of SOF GLSS is a nice plus given it accounts for an estimated.””
Other research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Lockheed Martin Corporation from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Argus reaffirmed a “buy” rating and set a $320.00 price objective (up previously from $100.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub raised shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research raised shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $240.00 target price on shares of Lockheed Martin Corporation in a research report on Monday, June 12th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $291.15.
Shares of Lockheed Martin Corporation (LMT) opened at 303.75 on Monday. The firm has a market capitalization of $87.48 billion, a PE ratio of 17.62 and a beta of 0.60. Lockheed Martin Corporation has a 52-week low of $228.50 and a 52-week high of $307.10. The company’s 50-day moving average is $288.81 and its 200 day moving average is $274.31.
Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $3.23 EPS for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The company had revenue of $12.69 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the prior year, the company posted $3.32 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Lockheed Martin Corporation will post $12.63 earnings per share for the current fiscal year.
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In other Lockheed Martin Corporation news, SVP Maryanne Lavan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $290.11, for a total value of $2,901,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total value of $7,553,780.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.
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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