In a report issued on January 24, Peter Arment from Robert W. Baird maintained a Hold rating on Lockheed Martin (LMT – Research Report), with a price target of $376.00. The company’s shares closed last Thursday at $385.43, close to its 52-week high of $397.62.
According to TipRanks.com, Arment is a 5-star analyst with an average return of 11.0% and a 63.1% success rate. Arment covers the Technology sector, focusing on stocks such as L3Harris Technologies, Raytheon Technologies, and Spirit AeroSystems.
Lockheed Martin has an analyst consensus of Moderate Buy, with a price target consensus of $411.23, a 4.6% upside from current levels. In a report issued on January 18, Jefferies also maintained a Hold rating on the stock with a $350.00 price target.
Based on Lockheed Martin’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $17.73 billion and net profit of $2.05 billion. In comparison, last year the company earned revenue of $17.03 billion and had a net profit of $1.79 billion.
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Headquartered in Bethesda, Maryland, Lockheed Martin Corp. is a global security and aerospace company and is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The majority of Lockheed Martin’s business is with the U.S. Department of Defense and U.S. federal government agencies. Lockheed Martin’s business is also comprised of international government and commercial sales of products, services and platforms. The company’s operating units are divided into four categories including, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems and Space Systems.
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