Lockheed Martin (NYSE:LMT) Price Target Cut to $535.00 by Analysts at JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $540.00 to $535.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 17.76% from the company’s current price.

A number of other brokerages have also recently issued reports on LMT. Barclays dropped their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.80.

Lockheed Martin Stock Down 0.0 %

Shares of LMT stock traded down $0.03 during mid-day trading on Thursday, reaching $454.33. 473,697 shares of the company’s stock traded hands, compared to its average volume of 1,370,057. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a market cap of $107.69 billion, a P/E ratio of 16.40, a P/E/G ratio of 4.05 and a beta of 0.48. 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 company’s 50-day moving average price is $495.56 and its 200-day moving average price is $536.97.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, equities analysts expect that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. FMR LLC boosted its position in shares of 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 acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the period. International Assets Investment Management LLC boosted its stake in 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. Finally, Bank of Montreal Can boosted its stake in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the period. 74.19% of the stock is currently owned by 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.