Credit Suisse and RBC Capital Increase Price Targets On Lockheed Martin Following Q3 Results, But This Analyst With Accuracy Rate Of 77% Slashes PT

Lockheed Martin Corp LMT reported better-than-expected Q3 EPS results on Tuesday.

Lockheed Martin reported a third-quarter FY22 net sales growth of 3.5% year-over-year to $16.58 billion, slightly missing the consensus of $16.64 billion. Adjusted EPS declined to $6.71, beating the consensus of $6.68.

Lockheed Martin announced an additional $14 billion share repurchase. It also increased the quarterly dividend rate by 7% to $3.00 per share.

Lockheed Martin shares jumped 8.7% to close at $431.84 on Tuesday.

These analysts made changes to their price targets on Lockheed Martin after the company released quarterly results.

• Credit Suisse raised price target on Lockheed Martin from $375 to $384. Credit Suisse analyst Scott Deuschle maintained an Underperform rating on the stock.
• RBC Capital raised Lockheed Martin price target from $420 to $445. RBC Capital analyst Ken Herbert maintained a Sector Perform rating on the stock.
• Baird analyst Peter Arment upgraded Lockheed Martin from Neutral to Outperform and announced a $513 price target.
• Susquehanna analyst Charles Minervino cut Lockheed Martin price target from $539 to $510, but maintained the stock with a Positive rating.Charles Minervino has an accuracy rate of 77%.