Lockheed Martin (NYSE:LMT) Shares Up 0.5% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 0.5% during mid-day trading on Wednesday . The stock traded as high as $466.96 and last traded at $466.45. Approximately 214,797 shares changed hands during trading, a decline of 78% from the average daily volume of 981,757 shares. The stock had previously closed at $463.96.

Wall Street Analyst Weigh In

Several research firms have commented on LMT. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $591.21.

Lockheed Martin Trading Down 0.2 %

The stock’s 50 day simple moving average is $511.39 and its 200 day simple moving average is $534.41. 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 cap of $110.89 billion, a PE ratio of 16.94, a PEG ratio of 4.05 and a beta of 0.48.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC grew its stake in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its stake in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares during the period. Salomon & Ludwin LLC raised its holdings in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its position in shares of Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the last quarter. 74.19% of the stock is 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.