Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares traded down 0.2% on Tuesday . The stock traded as low as $479.48 and last traded at $482.20. 256,396 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,066,855 shares. The stock had previously closed at $483.16.
A number of analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Barclays reduced their price target on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reduced their target price on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial began coverage on Lockheed Martin in a report on Tuesday. They set a "buy" rating and a $579.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $590.40.
Get Our Latest Report on Lockheed Martin
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 business's 50-day simple moving average is $510.20 and its 200 day simple moving average is $535.47. The firm has a market capitalization of $113.70 billion, a P/E ratio of 17.37, a PEG ratio of 4.05 and a beta of 0.48.
Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly 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 business had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. During the same period last year, the business earned $6.77 earnings per share. The business's quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in Lockheed Martin by 686.0% during the 2nd quarter. Federated Hermes Inc. now owns 34,774 shares of the aerospace company's stock valued at $16,243,000 after purchasing an additional 30,350 shares during the period. Plato Investment Management Ltd lifted its stake in Lockheed Martin by 5.1% in the second quarter. Plato Investment Management Ltd now owns 1,118 shares of the aerospace company's stock worth $522,000 after acquiring an additional 54 shares during the period. Fairfield Financial Advisors LTD bought a new stake in Lockheed Martin in the second quarter valued at $259,000. Dimensional Fund Advisors LP increased its position in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock valued at $546,144,000 after purchasing an additional 119,052 shares during the period. Finally, Quantbot Technologies LP increased its position in shares of Lockheed Martin by 39.0% during the second quarter. Quantbot Technologies LP now owns 9,050 shares of the aerospace company's stock valued at $4,227,000 after buying an additional 2,537 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.