Lockheed Martin (NYSE:LMT) Given New $540.00 Price Target at JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT) had its target price cut by investment analysts at JPMorgan Chase & Co. from $546.00 to $540.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.64% from the stock’s current price.

Several other research firms have also recently weighed in on LMT. UBS Group raised their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Susquehanna lowered their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin Price Performance

Shares of LMT opened at $483.71 on Thursday. The stock has a 50 day simple moving average of $508.95 and a 200 day simple moving average of $535.59. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $114.66 billion, a PE ratio of 17.51, a P/E/G ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. Sell-side analysts predict that Lockheed Martin will post 26.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the company. Clarius Group LLC raised its position in shares of Lockheed Martin by 3.5% in the 4th quarter. Clarius Group LLC now owns 1,752 shares of the aerospace company’s stock valued at $851,000 after buying an additional 60 shares in the last quarter. J2 Capital Management Inc bought a new position in Lockheed Martin in the fourth quarter valued at approximately $503,000. Moss Adams Wealth Advisors LLC raised its position in Lockheed Martin by 10.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 531 shares of the aerospace company’s stock valued at $258,000 after purchasing an additional 52 shares in the last quarter. Monarch Capital Management Inc. lifted its stake in Lockheed Martin by 11.9% during the fourth quarter. Monarch Capital Management Inc. now owns 2,428 shares of the aerospace company’s stock worth $1,180,000 after purchasing an additional 258 shares during the last quarter. Finally, IAM Advisory LLC boosted its holdings in shares of Lockheed Martin by 1.3% in the 4th quarter. IAM Advisory LLC now owns 4,136 shares of the aerospace company’s stock valued at $2,010,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

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.