Lockheed Martin (NYSE:LMT) Earns Buy Rating from Analysts at Truist Financial

Equities research analysts at Truist Financial initiated coverage on shares of Lockheed Martin (NYSE:LMT) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $579.00 price target on the aerospace company’s stock. Truist Financial’s target price would suggest a potential upside of 19.69% from the company’s previous close.

A number of other analysts also recently commented on the stock. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Susquehanna reduced their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $590.40.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $483.76 on Tuesday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a market capitalization of $114.67 billion, a PE ratio of 17.51, a P/E/G ratio of 4.05 and a beta of 0.48. The business’s 50 day moving average price is $510.20 and its 200-day moving average price is $535.47.

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. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 EPS. As a group, equities research analysts expect that Lockheed Martin will post 26.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% in the 3rd 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 in the last quarter. Virtue Capital Management LLC boosted its stake in shares of Lockheed Martin by 112.8% in the third 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 during the period. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Old West Investment Management LLC increased its stake 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 buying an additional 1,643 shares during the period. Finally, Capital Investment Advisors LLC lifted its holdings in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares in the last quarter. 74.19% of the stock is currently 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.