Lockheed Martin (NYSE:LMT) PT Raised to $610.00

Lockheed Martin (NYSE:LMT) had its price target lifted by equities researchers at TD Cowen from $560.00 to $610.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. TD Cowen’s price objective would suggest a potential upside of 6.68% from the company’s current price.

LMT has been the topic of several other research reports. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Royal Bank of Canada upped their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $607.43.

Lockheed Martin Stock Down 0.9 %

LMT stock traded down $5.18 during trading on Wednesday, hitting $571.80. 697,336 shares of the stock traded hands, compared to its average volume of 1,051,114. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The firm’s 50 day moving average is $579.79 and its two-hundred day moving average is $513.10. The stock has a market cap of $137.20 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. On average, sell-side analysts anticipate that Lockheed Martin will post 26.68 EPS for the current year.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the business. Stokes Family Office LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at about $425,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Lockheed Martin by 15.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,681 shares of the aerospace company’s stock valued at $4,404,000 after acquiring an additional 1,291 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lockheed Martin by 9.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 132,611 shares of the aerospace company’s stock valued at $60,321,000 after acquiring an additional 11,970 shares in the last quarter. Chesley Taft & Associates LLC raised its holdings in shares of Lockheed Martin by 5.3% in the first quarter. Chesley Taft & Associates LLC now owns 2,001 shares of the aerospace company’s stock valued at $910,000 after acquiring an additional 100 shares in the last quarter. Finally, Thrive Wealth Management LLC raised its holdings in shares of Lockheed Martin by 1.1% in the first quarter. Thrive Wealth Management LLC now owns 3,736 shares of the aerospace company’s stock valued at $1,699,000 after acquiring an additional 39 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.