Lockheed Martin (NYSE:LMT) Trading 1% Higher – Still a Buy?

Lockheed Martin Co. (NYSE:LMT) shares traded up 1% on Thursday . The company traded as high as $469.22 and last traded at $468.61. 997,247 shares changed hands during trading, a decline of 12% from the average session volume of 1,137,235 shares. The stock had previously closed at $463.96.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research note on Wednesday. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays dropped their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 1.0 %

The company’s 50 day moving average price is $514.50 and its 200 day moving average price is $534.89. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $111.08 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 4.05 and a beta of 0.48.

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 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 company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC boosted its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.