Lockheed Martin (NYSE:LMT – Get Free Report) had its target price decreased by equities researchers at Susquehanna from $695.00 to $590.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price target indicates a potential upside of 27.06% from the company’s previous close.
A number of other research firms also recently weighed in on LMT. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen increased their price target on shares of 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 cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $591.21.
Get Our Latest Analysis on Lockheed Martin
Lockheed Martin Stock Performance
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $6.77 EPS. On average, research analysts expect that Lockheed Martin will post 26.88 EPS for the current year.
Hedge Funds Weigh In On Lockheed Martin
Several hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its position 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 acquiring an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. grew its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares in the last quarter. Old West Investment Management LLC increased its stake in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares during the period. Virtue Capital Management LLC raised its holdings in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in Lockheed Martin by 55.1% during the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after buying an additional 2,297 shares in the last quarter. 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.
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