Lockheed Martin (NYSE:LMT) Stock Price Down 0.1% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) dropped 0.1% during mid-day trading on Thursday . The company traded as low as $484.46 and last traded at $485.53. Approximately 218,539 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,092,156 shares. The stock had previously closed at $485.94.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barclays lifted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Susquehanna dropped their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $605.36.

Lockheed Martin Price Performance

The stock has a 50 day moving average of $519.47 and a two-hundred day moving average of $534.34. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $114.21 billion, a PE ratio of 17.44, a PEG ratio of 4.05 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter worth approximately $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at $27,000. Sachetta LLC lifted its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Lockheed Martin in the third quarter worth $32,000. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin during the third quarter valued at about $40,000. 74.19% of the stock is owned by hedge funds and other 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.