Lockheed Martin (NYSE:LMT) Trading Up 0.5% – Here’s Why

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

Analyst Ratings Changes

A number of analysts have issued reports on LMT shares. Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday. 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 report on Wednesday, October 23rd. Citigroup boosted their price objective 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. Finally, Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued 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 $591.21.

Lockheed Martin Trading Down 0.2 %

The company has a market cap of $110.89 billion, a P/E ratio of 16.94, a P/E/G ratio of 4.05 and a beta of 0.48. The business’s 50-day moving average price is $511.39 and its 200 day moving average price 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.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the 3rd quarter worth $26,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth $27,000. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the third quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin in the third quarter valued at about $42,000. Institutional investors own 74.19% of the company’s stock.

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.