Lockheed Martin Co. (NYSE:LMT) Receives $591.21 Average Price Target from Analysts

Lockheed Martin Co. (NYSE:LMT) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $591.21.

LMT has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Susquehanna lowered their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research note on Wednesday.

Lockheed Martin Price Performance

NYSE:LMT opened at $467.84 on Thursday. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The company has a market cap of $110.89 billion, a P/E ratio of 16.94, a P/E/G ratio of 4.05 and a beta of 0.48. The firm’s fifty day moving average price is $511.39 and its two-hundred day moving average price is $534.87. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 earnings per share. Equities analysts expect that Lockheed Martin will post 26.88 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Virtue Capital Management LLC grew its holdings in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares during the last quarter. Old West Investment Management LLC boosted its position in shares of Lockheed Martin by 6.6% during 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. Finally, World Investment Advisors LLC boosted its position in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after acquiring an additional 2,297 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.