Lockheed Martin (NYSE:LMT) Raised to “Strong-Buy” at TD Cowen

Lockheed Martin (NYSE:LMT) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

Several other research firms have also issued reports on LMT. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada lifted their price target on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $568.31.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $608.27 on Tuesday. The firm has a market cap of $145.95 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 4.66 and a beta of 0.47. The company’s 50 day moving average is $567.27 and its 200 day moving average is $501.20. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $611.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.73 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin will post 26.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth about $30,000. Institutional investors and hedge funds own 74.19% 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.