Lockheed Martin (NYSE:LMT) Trading Up 1% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price traded up 1% during mid-day trading on Thursday . The stock traded as high as $469.22 and last traded at $468.61. 997,247 shares changed hands during trading, a decline of 12% from the average session volume of 1,137,235 shares. The stock had previously closed at $463.96.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMT shares. Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 1.0 %

The stock has a 50-day simple moving average of $514.50 and a 200-day simple moving average of $534.89. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $111.08 billion, a PE ratio of 16.97, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. Analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Burkett Financial Services LLC bought a new stake in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.