Lockheed Martin (NYSE:LMT) Shares Up 0.1% – What’s Next?

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.1% during mid-day trading on Friday . The stock traded as high as $483.83 and last traded at $482.75. 149,291 shares traded hands during trading, a decline of 72% from the average session volume of 539,383 shares. The stock had previously closed at $482.25.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LMT shares. UBS Group upped their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $611.00 to $523.00 in a research note on Thursday. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $605.36.

Lockheed Martin Price Performance

The stock has a market capitalization of $114.21 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth 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 company has a 50-day simple moving average of $519.47 and a two-hundred day simple moving average of $534.85.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares in the last quarter. Virtue Capital Management LLC increased its stake in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after buying an additional 2,297 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

About Lockheed Martin

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.