Lockheed Martin (NYSE:LMT) Trading 0.1% Higher – Time to Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price rose 0.1% on Friday . The company traded as high as $483.83 and last traded at $482.75. Approximately 149,291 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 539,383 shares. The stock had previously closed at $482.25.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LMT. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $605.36.

Lockheed Martin Trading Down 0.1 %

The firm’s 50 day simple moving average is $519.47 and its 200-day simple moving average is $534.85. The company has a market capitalization of $114.21 billion, a PE ratio of 17.44, a P/E/G ratio of 4.05 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current year.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares in the last quarter. FMR LLC grew its holdings in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its stake in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the period. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during 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.