RBC Capital Reiterates Outperform Following Lockheed Martin's (LMT) 4Q and Announced Leidos Combination

RBC Capital maintained an Outperform rating on Lockheed Martin (NYSE: LMT), and cut the price target to $244.00 (from $250.00), following the company's 4Q earnings report. Lockheed Martin posted 4Q15 EPS of $3.01, ahead of consensus at $2.94. In conjunction with the 4Q results, Lockheed announced that it is combining its IS&GS services division with Leidos, a smaller Fed IT company.

Analyst Robert Stallard commented, "Lockheed Martin posted 4Q15 EPS of $3.01, ahead of consensus at $2.94. Revenues and operating profits were both ahead of our forecasts, with the untouched Aeronautics division posting healthy 6% YoY revenue growth, but with the margin easing to 10.2% due to the higher proportion of F-35 sales. Impairment and restructuring charges in the quarter were partially offset by a 19.8% tax rate. The company ended the year with a $100bn backlog, and a book to bill of 1.09x."

For an analyst ratings summary and ratings history on Lockheed Martin click here. For more ratings news on Lockheed Martin click here.

Shares of Lockheed Martin closed at $209.93 yesterday.

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