Lockheed Martin (NYSE:LMT) Trading Down 0.1%

Lockheed Martin Co. (NYSE:LMT) dropped 0.1% during mid-day trading on Monday . The company traded as low as $579.81 and last traded at $581.58. Approximately 113,607 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,056,713 shares. The stock had previously closed at $582.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Performance

The firm’s fifty day simple moving average is $556.36 and its 200 day simple moving average is $494.27. The company has a market capitalization of $139.29 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $6.73 EPS. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter worth approximately $30,000. Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.