StockNews.com Upgrades Lockheed Martin (NYSE:LMT) to Strong-Buy

Lockheed Martin (NYSE:LMT) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Several other equities analysts also recently weighed in on LMT. UBS Group raised their price target 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. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. 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 note on Tuesday, September 3rd. Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

LMT opened at $513.03 on Friday. 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 cap of $121.61 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The firm’s fifty day simple moving average is $562.51 and its two-hundred day simple moving average is $531.12.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. Equities analysts anticipate that Lockheed Martin will post 26.94 earnings per share for the current fiscal year.

Institutional Trading of Lockheed Martin

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Old West Investment Management LLC lifted its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares during the last quarter. Empower Advisory Group LLC grew its stake in Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after acquiring an additional 1,843 shares in the last quarter. Finally, Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin in the second quarter worth $6,611,000. 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.