Lockheed Martin Co. (NYSE:LMT – Get Free Report) fell 0.2% during mid-day trading on Friday . The stock traded as low as $467.00 and last traded at $467.69. 347,210 shares changed hands during trading, a decline of 66% from the average session volume of 1,006,954 shares. The stock had previously closed at $468.85.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on LMT shares. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays reduced their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective 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, Susquehanna lowered their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $591.21.
Read Our Latest Analysis on LMT
Lockheed Martin Trading Down 0.2 %
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS 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 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts predict that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.
Institutional Trading of Lockheed Martin
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMT. Bank of Montreal Can boosted its holdings in Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Virtue Capital Management LLC lifted its stake in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% during the 3rd 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 increased its position in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Finally, World Investment Advisors LLC raised its holdings in Lockheed Martin by 55.1% in the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after buying an additional 2,297 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.
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.
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