Lockheed Martin (NYSE:LMT) Shares Down 0.2% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) dropped 0.2% during trading on Friday . The stock traded as low as $467.00 and last traded at $467.69. Approximately 347,210 shares traded hands during trading, a decline of 66% from the average daily volume of 1,006,954 shares. The stock had previously closed at $468.85.

Analyst Ratings Changes

LMT has been the topic of a number of recent research reports. Susquehanna cut their target price on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. raised their price objective 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. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company dropped their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Trading Up 0.2 %

The stock’s 50 day simple moving average is $512.94 and its two-hundred day simple moving average is $534.43. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $111.36 billion, a PE ratio of 17.01, a PEG ratio of 4.05 and a beta of 0.48.

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

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of LMT. International Assets Investment Management LLC lifted its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after buying an additional 249,591 shares in the last quarter. Wellington Management Group LLP boosted its stake in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares during the period. Finally, FMR LLC grew its position in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.