Lockheed Martin (NYSE:LMT) Stock Price Up 0.1% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares rose 0.1% on Friday . The company traded as high as $483.83 and last traded at $482.75. Approximately 149,291 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 539,383 shares. The stock had previously closed at $482.25.

Analyst Ratings Changes

A number of research firms have recently weighed in on LMT. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $605.36.

Lockheed Martin Stock Performance

The firm has a market cap of $114.20 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 4.05 and a beta of 0.47. 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 has a fifty day simple moving average of $521.08 and a two-hundred day simple moving average of $534.18.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at approximately $26,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $40,000. Hedge funds and other 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.