Lockheed Martin (NYSE:LMT) Trading 2.9% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price rose 2.9% during mid-day trading on Tuesday . The stock traded as high as $505.83 and last traded at $504.74. Approximately 424,172 shares were traded during trading, a decline of 61% from the average daily volume of 1,082,789 shares. The stock had previously closed at $490.32.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased 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 report on Wednesday, October 23rd. Finally, Wells Fargo & Company cut their price target on shares of 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Trading Down 0.5 %

The firm has a market cap of $117.79 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.11 and a beta of 0.48. 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 fifty day moving average of $500.84 and a 200-day moving average of $536.25.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 earnings per share. Equities research analysts forecast that Lockheed Martin Co. will post 26.81 earnings per share for the current year.

Institutional Trading of Lockheed Martin

Several hedge funds have recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at about $35,000. Austin Private Wealth LLC raised its position in shares of Lockheed Martin by 11.3% during the 4th quarter. Austin Private Wealth LLC now owns 1,142 shares of the aerospace company’s stock worth $555,000 after buying an additional 116 shares in the last quarter. Caprock Group LLC lifted its position in Lockheed Martin by 3.3% in the fourth quarter. Caprock Group LLC now owns 7,487 shares of the aerospace company’s stock worth $3,639,000 after purchasing an additional 238 shares during the period. Hamilton Point Investment Advisors LLC boosted its stake in Lockheed Martin by 2.2% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 1,050 shares of the aerospace company’s stock valued at $510,000 after purchasing an additional 23 shares in the last quarter. Finally, Sonora Investment Management Group LLC increased its position in shares of Lockheed Martin by 1.1% during the 4th quarter. Sonora Investment Management Group LLC now owns 38,902 shares of the aerospace company’s stock valued at $18,904,000 after purchasing an additional 440 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.