Susquehanna Bancshares Initiates Coverage on Lockheed Martin (LMT)

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Susquehanna Bancshares began coverage on shares of Lockheed Martin (NYSE:LMT) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a positive rating and a $321.00 price objective on the aerospace company’s stock.

LMT has been the topic of several other research reports. Jefferies Financial Group restated a hold rating and issued a $274.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 9th. Credit Suisse Group boosted their target price on Lockheed Martin from $340.00 to $368.00 and gave the stock a neutral rating in a research report on Wednesday, October 3rd. Zacks Investment Research upgraded Lockheed Martin from a hold rating to a buy rating and set a $377.00 target price on the stock in a research report on Thursday, October 11th. Morgan Stanley cut Lockheed Martin from an overweight rating to an equal weight rating and set a $300.00 target price on the stock. in a research report on Wednesday, January 9th. Finally, Goldman Sachs Group upgraded Lockheed Martin from a neutral rating to a conviction-buy rating and boosted their target price for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $358.60.

LMT opened at $277.73 on Thursday. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. Lockheed Martin has a one year low of $241.18 and a one year high of $363.00. The stock has a market cap of $76.95 billion, a PE ratio of 20.83, a PEG ratio of 2.31 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the Zacks’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the previous year, the firm earned $3.24 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin will post 17.74 EPS for the current year.

Lockheed Martin announced that its Board of Directors has approved a stock buyback program on Thursday, September 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the sale, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in Lockheed Martin by 47.7% in the 3rd quarter. Capital International Investors now owns 3,465,642 shares of the aerospace company’s stock valued at $1,198,974,000 after buying an additional 1,119,631 shares during the last quarter. FMR LLC lifted its holdings in Lockheed Martin by 13.7% in the third quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock worth $919,205,000 after acquiring an additional 319,488 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Lockheed Martin by 768.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 267,942 shares of the aerospace company’s stock worth $92,697,000 after acquiring an additional 237,106 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in Lockheed Martin by 25,999.4% in the second quarter. Mainstay Capital Management LLC ADV now owns 223,150 shares of the aerospace company’s stock worth $785,000 after acquiring an additional 222,295 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Lockheed Martin by 0.9% in the third quarter. Vanguard Group Inc. now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after acquiring an additional 199,456 shares during the last quarter. Institutional investors and hedge funds own 77.66% of the company’s stock.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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