Lockheed Martin (NYSE:LMT) Trading 2.3% Higher – Time to Buy?

Shares of Lockheed Martin Corporation (NYSE:LMT) shot up 2.3% on Tuesday . The company traded as high as $595.87 and last traded at $595.03. 1,702,647 shares traded hands during trading, a decline of 23% from the average session volume of 2,223,278 shares. The stock had previously closed at $581.66.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Susquehanna reissued a “positive” rating and set a $660.00 target price on shares of Lockheed Martin in a research report on Thursday, January 15th. Sanford C. Bernstein reissued a “market perform” rating and set a $586.00 target price on shares of Lockheed Martin in a research report on Monday, January 12th. Citigroup raised their price target on shares of Lockheed Martin from $505.00 to $592.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Finally, Robert W. Baird boosted their price objective on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $543.82.

Lockheed Martin Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The stock has a 50-day moving average price of $498.14 and a 200 day moving average price of $476.96. The stock has a market capitalization of $137.69 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.69 and a beta of 0.24.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after purchasing an additional 19,459 shares during the last quarter. Wellington Management Group LLP lifted its position in Lockheed Martin by 3.4% during the third quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company’s stock worth $1,190,493,000 after buying an additional 79,491 shares in the last quarter. Invesco Ltd. boosted its stake in Lockheed Martin by 4.2% during the third quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock worth $1,096,294,000 after buying an additional 87,663 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 1,022,940 shares of the aerospace company’s stock valued at $510,662,000 after buying an additional 63,430 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.