Lockheed Martin (NYSE:LMT) Shares Up 0.6% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) rose 0.6% during mid-day trading on Tuesday . The stock traded as high as $473.42 and last traded at $468.59. Approximately 371,734 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 928,180 shares. The stock had previously closed at $466.00.

Analysts Set New Price Targets

A number of research firms have recently commented on LMT. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Susquehanna cut their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $111.08 billion, a PE ratio of 16.97, a P/E/G ratio of 4.05 and a beta of 0.48. The business’s 50-day moving average price is $514.50 and its 200-day moving average price is $534.89.

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

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently added to or reduced their stakes in LMT. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares during the period. Wellington Management Group LLP lifted its position in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, FMR LLC grew its stake in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Institutional investors and hedge funds 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.