Lockheed Martin Corporation (LMT) Rating Reiterated by Cowen and Company
Lockheed Martin Corporation (NYSE:LMT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cowen and Company in a note issued to investors on Thursday. They presently have a $310.00 target price on the aerospace company’s stock, up from their prior target price of $295.00. Cowen and Company’s price target indicates a potential upside of 2.55% from the company’s current price.
The analysts wrote, “While order timing is an issue and Rev Rec” will impact 2017-18 GAAP EPS.””
Several other equities research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research cut shares of Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a “buy” rating and set a $320.00 price objective (up previously from $300.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and set a $240.00 price objective on shares of Lockheed Martin Corporation in a research report on Monday, June 12th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $300.00 price objective (up previously from $280.00) on shares of Lockheed Martin Corporation in a research report on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Lockheed Martin Corporation presently has a consensus rating of “Buy” and an average target price of $303.19.
Shares of Lockheed Martin Corporation (NYSE LMT) opened at 302.30 on Thursday. The company’s 50-day moving average is $301.54 and its 200-day moving average is $281.95. Lockheed Martin Corporation has a 12-month low of $228.50 and a 12-month high of $308.48. The company has a market cap of $87.06 billion, a price-to-earnings ratio of 17.54 and a beta of 0.59.
Lockheed Martin Corporation (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, beating the 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 business had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the firm earned $3.32 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Lockheed Martin Corporation will post $12.64 earnings per share for the current year.
In related news, Chairman Marillyn A. Hewson sold 26,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $290.53, for a total value of $7,553,780.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian P. Colan sold 350 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $107,166.50. The disclosure for this sale can be found here. Insiders sold 45,220 shares of company stock worth $13,293,563 in the last 90 days. 0.39% of the stock is currently owned by company insiders.
Lockheed Martin Corporation Company Profile
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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