Lockheed Martin (NYSE:LMT) Trading 0.8% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) was up 0.8% during trading on Monday . The stock traded as high as $492.05 and last traded at $490.60. Approximately 1,331,181 shares were traded during mid-day trading, an increase of 28% from the average daily volume of 1,037,778 shares. The stock had previously closed at $486.86.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin Stock Performance

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’s fifty day moving average is $504.80 and its two-hundred day moving average is $536.03. The firm has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 return on equity of 101.44% and a net margin of 9.36%. 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 business’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the 3rd quarter valued at $26,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter valued at $42,000. 74.19% of the stock is currently owned by 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.