Lockheed Martin (NYSE:LMT) Stock Price Up 0.6% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares traded up 0.6% during trading on Tuesday . The stock traded as high as $473.42 and last traded at $468.59. 371,734 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 928,180 shares. The stock had previously closed at $466.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating 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 issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $601.79.

Lockheed Martin Price Performance

The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a 50-day moving average price of $517.70 and a 200 day moving average price of $535.38.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its position in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares during the period. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC increased its stake in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares during the last quarter. Sunburst Financial Group LLC grew its position in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC boosted its position in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.