Lockheed Martin (NYSE:LMT) Given “Buy” Rating at Bank of America

Lockheed Martin (NYSE:LMT)‘s stock had its “buy” rating reaffirmed by stock analysts at Bank of America in a research report issued on Friday, Benzinga reports. They currently have a $635.00 target price on the aerospace company’s stock. Bank of America‘s price objective suggests a potential upside of 12.06% from the stock’s current price.

Several other equities research analysts also recently weighed in on LMT. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, UBS Group lifted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $541.85.

Lockheed Martin Trading Up 0.5 %

NYSE LMT opened at $566.68 on Friday. The firm’s fifty day moving average is $510.22 and its two-hundred day moving average is $471.88. Lockheed Martin has a one year low of $393.77 and a one year high of $568.73. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market cap of $135.97 billion, a PE ratio of 20.73, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.73 EPS. Analysts expect that Lockheed Martin will post 26.71 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Legal & General Group Plc boosted its stake in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after acquiring an additional 119,052 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in shares of Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

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.