Lockheed Martin (NYSE:LMT) Stock Price Up 0.8% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.8% on Friday . The company traded as high as $491.37 and last traded at $490.81. 373,158 shares changed hands during trading, a decline of 65% from the average session volume of 1,055,451 shares. The stock had previously closed at $486.86.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Susquehanna reduced their target price on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.40.

Lockheed Martin Price Performance

The stock has a market capitalization of $116.29 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm’s 50 day simple moving average is $504.80 and its 200 day simple moving average is $535.05.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the third quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter worth $27,000. Burkett Financial Services LLC bought a new stake in Lockheed Martin during the 3rd quarter valued at $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the 3rd quarter valued at $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the 3rd quarter worth $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.