Lockheed Martin (NYSE:LMT) Sets New 12-Month High – Still a Buy?

Shares of Lockheed Martin Corporation (NYSE:LMT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $586.85 and last traded at $581.6660, with a volume of 143209 shares. The stock had previously closed at $582.43.

Analyst Ratings Changes

Several brokerages have issued reports on LMT. JPMorgan Chase & Co. restated a “neutral” rating and set a $515.00 price objective (up from $465.00) on shares of Lockheed Martin in a research report on Friday, December 19th. The Goldman Sachs Group lifted their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a report on Friday, October 10th. BNP Paribas Exane upped their price objective on Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. UBS Group lifted their target price on Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $543.00 price target (down from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $543.82.

Lockheed Martin Trading Down 0.6%

The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The company has a market capitalization of $133.98 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 1.66 and a beta of 0.24. The firm has a fifty day moving average price of $485.76 and a 200-day moving average price of $472.71.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping the consensus estimate of $6.33 by $0.62. The business had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. Lockheed Martin’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.84 earnings per share. As a group, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Insider Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the sale, the chief operating officer owned 1 shares in the company, valued at approximately $491.04. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the business. United Financial Planning Group LLC acquired a new stake in Lockheed Martin in the third quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Lockheed Martin during the 3rd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin in the 2nd quarter valued at approximately $28,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Lockheed Martin in the second quarter valued at approximately $29,000. Institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.