Lockheed Martin (LMT) Cut to Equal Weight at Morgan Stanley

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Morgan Stanley downgraded shares of Lockheed Martin (NYSE:LMT) from an overweight rating to an equal weight rating in a report issued on Wednesday, Marketbeat.com reports. Morgan Stanley currently has $300.00 price objective on the aerospace company’s stock.

A number of other research firms also recently issued reports on LMT. Zacks Investment Research raised shares of Lockheed Martin from a hold rating to a buy rating and set a $391.00 price objective on the stock in a report on Thursday, October 4th. Robert W. Baird reaffirmed a buy rating and set a $326.00 price objective on shares of Lockheed Martin in a report on Friday, December 21st. Goldman Sachs Group raised shares of Lockheed Martin from a neutral rating to a conviction-buy rating and lifted their price objective for the stock from $391.00 to $394.00 in a report on Wednesday, October 24th. Barclays cut their price objective on shares of Lockheed Martin from $369.00 to $325.00 and set an equal weight rating on the stock in a report on Tuesday, December 4th. Finally, ValuEngine raised shares of Lockheed Martin from a sell rating to a hold rating in a report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $358.60.

NYSE LMT opened at $277.73 on Wednesday. Lockheed Martin has a 12-month low of $241.18 and a 12-month high of $363.00. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91. The firm has a market capitalization of $76.95 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The business had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same quarter last year, the firm posted $3.24 EPS. Lockheed Martin’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Lockheed Martin will post 17.74 earnings per share for the current year.

Lockheed Martin announced that its Board of Directors has initiated a share buyback plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

In related news, VP Bruce L. Tanner sold 11,203 shares of the business’s stock in a transaction dated 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 directly owns 79,770 shares in the company, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. raised its stake in Lockheed Martin by 43.5% in the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 50 shares during the period. Moody National Bank Trust Division bought a new stake in shares of Lockheed Martin during the fourth quarter valued at about $48,000. Canton Hathaway LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at about $104,000. Amussen Hunsaker Associates LLC increased its position in shares of Lockheed Martin by 159.1% during the third quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock valued at $118,000 after buying an additional 210 shares during the period. Finally, Whitener Capital Management Inc. bought a new stake in shares of Lockheed Martin during the third quarter valued at about $169,000. 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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