Lockheed Martin (NYSE:LMT) Trading 0.5% Higher – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) were up 0.5% on Wednesday . The stock traded as high as $486.53 and last traded at $485.94. Approximately 731,840 shares changed hands during trading, a decline of 33% from the average daily volume of 1,092,156 shares. The stock had previously closed at $483.37.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMT. Wells Fargo & Company decreased their price target on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup upped their price target 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. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, Susquehanna lowered their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $605.36.

Lockheed Martin Stock Down 0.8 %

The company has a 50-day moving average of $521.08 and a two-hundred day moving average of $534.18. 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 company has a market capitalization of $114.31 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 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 firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business posted $6.77 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts predict that Lockheed Martin Co. will post 26.88 EPS for the current year.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter worth $26,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC increased its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the third quarter worth approximately $40,000. 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.