Lockheed Martin (NYSE:LMT) Hits New 52-Week High at $594.32

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Performance

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

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, topping 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 for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business posted $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.