Lockheed Martin (NYSE:LMT) Shares Up 0.3%

Lockheed Martin Co. (NYSE:LMT) shares rose 0.3% during trading on Friday . The company traded as high as $580.77 and last traded at $578.95. Approximately 108,567 shares changed hands during trading, a decline of 90% from the average daily volume of 1,057,802 shares. The stock had previously closed at $577.40.

Wall Street Analysts Forecast Growth

Several analysts have commented on LMT shares. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Trading Up 0.8 %

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business’s 50-day simple moving average is $554.21 and its two-hundred day simple moving average is $492.41. The stock has a market capitalization of $139.62 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 EPS. On average, research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several hedge funds have recently added to or reduced their stakes in LMT. HTLF Bank increased its position in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC lifted its position in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the second 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. Twin Lakes Capital Management LLC boosted its position in Lockheed Martin by 1.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after acquiring an additional 20 shares during the period. Finally, Goldstein Advisors LLC grew its position in Lockheed Martin by 1.2% during the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after purchasing an additional 21 shares in the last quarter. 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.