Lockheed Martin (NYSE:LMT) Reaches New 1-Year High at $594.32

Lockheed Martin Co. (NYSE:LMT) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $594.32 and last traded at $593.79, with a volume of 38694 shares. The stock had previously closed at $584.56.

Wall Street Analyst Weigh In

Several brokerages recently commented on LMT. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating 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 lifted their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Up 2.5 %

The stock has a market cap of $143.76 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 4.66 and a beta of 0.47. The stock has a 50 day simple moving average of $558.55 and a 200 day simple moving average of $495.31. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

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

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred 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 $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $6,611,000. Morningstar Investment Services LLC boosted its stake in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after buying an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.