Lockheed Martin (NYSE:LMT) Trading 1.2% Higher – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT)’s share price was up 1.2% on Thursday . The stock traded as high as $595.95 and last traded at $592.99. Approximately 1,472,170 shares changed hands during trading, a decline of 38% from the average daily volume of 2,381,409 shares. The stock had previously closed at $586.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LMT shares. BNP Paribas Exane boosted their target price on Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $515.00 price target (up from $465.00) on shares of Lockheed Martin in a report on Friday, December 19th. Jefferies Financial Group upped their price objective on Lockheed Martin from $500.00 to $540.00 and gave the company a “hold” rating in a research note on Monday, January 12th. TD Cowen lifted their target price on Lockheed Martin from $520.00 to $600.00 and gave the stock a “hold” rating in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lockheed Martin from $517.00 to $492.00 and set a “hold” rating for the company in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average target price of $543.82.

Lockheed Martin Price Performance

The stock has a market cap of $136.59 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The business’s 50-day simple moving average is $495.94 and its two-hundred day simple moving average is $475.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the prior year, the company posted $6.84 EPS. Lockheed Martin’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in LMT. Brighton Jones LLC boosted its holdings in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Sivia Capital Partners LLC boosted its stake in Lockheed Martin by 5.4% during the second quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock valued at $451,000 after buying an additional 50 shares during the period. McAdam LLC grew its position in Lockheed Martin by 8.9% during the second quarter. McAdam LLC now owns 1,560 shares of the aerospace company’s stock worth $722,000 after buying an additional 128 shares in the last quarter. Plancorp LLC grew its position in Lockheed Martin by 2.6% during the second quarter. Plancorp LLC now owns 912 shares of the aerospace company’s stock worth $422,000 after buying an additional 23 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its holdings in shares of Lockheed Martin by 2.7% in the 2nd quarter. Old North State Wealth Management LLC now owns 1,052 shares of the aerospace company’s stock valued at $490,000 after acquiring an additional 28 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

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.