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

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

Several other equities research analysts have also commented on LMT. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reduced their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Morgan Stanley reduced their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $555.80.

Lockheed Martin Stock Down 0.0 %

Lockheed Martin stock traded down $0.03 during trading hours on Thursday, reaching $454.33. The stock had a trading volume of 473,697 shares, compared to its average volume of 1,370,057. The company has a market cap of $107.69 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 4.05 and a beta of 0.48. 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 business’s 50 day moving average price is $495.56 and its 200-day moving average price is $536.97. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Sell-side analysts anticipate that Lockheed Martin will post 26.89 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $32,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $40,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Company Profile

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.