Lockheed Martin Corporation (LMT) is Downgraded by RBC Capital Mkts to Sector Perform, Price Target at $244

Lockheed Martin Corporation (LMT) was Downgraded by RBC Capital Mkts to ” Sector Perform” and the brokerage firm has set the Price Target at $244. Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on May 19, 2016.

Many Wall Street Analysts have commented on Lockheed Martin Corporation. Lockheed Martin Corporation was Downgraded by Stifel to ” Hold” on May 13, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Underweight”, Firm has raised the Price Target to $ 225 from a previous price target of $215 .Lockheed Martin Corporation was Initiated by Berenberg to “Buy” on Mar 17, 2016.

On the company’s financial health, Lockheed Martin Corporation reported $2.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.61. The company had revenue of $11702.00 million for the quarter, compared to analysts expectations of $11384.05 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.74 EPS.

Lockheed Martin Corporation opened for trading at $241.21 and hit $243.994 on the upside on Monday, eventually ending the session at $242.97, with a gain of 0.35% or 0.85 points. The heightened volatility saw the trading volume jump to 9,21,153 shares. Company has a market cap of $73,973 M.

Investors should note that on Apr 27, 2016, Lockheed Martin Corporation announced a cash dividend of $1.6500. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 24, 2016.

In a different news, on Apr 29, 2016, Maryanne Lavan (SVP & General Counsel) sold 21,720 shares at $233.17 per share price. According to the SEC, on Apr 29, 2016, Marillyn A Hewson (Chairman, Pres. & CEO) sold 25,000 shares at $233.38 per share price. On Mar 4, 2016, Sondra L Barbour (Executive Vice President) sold 19,587 shares at $216.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research design development manufacture integration and sustainment of advanced technology systems products and services. The Company operates in five segments: Aeronautics Information Systems & Global Solutions (IS&GS) Missiles and Fire Control (MFC) Mission Systems and Training (MST) and Space Systems. The Company provides a range of management engineering technical scientific logistics and information services. The Company’s areas of focus are in defense space intelligence homeland security and information technology including cyber security. It serves both the United States and international customers with products and services that have defense civil and commercial applications.

Lockheed Martin Corporation

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