Lockheed Martin (NYSE:LMT) Stock Price Up 1% – Time to Buy?

Shares of Lockheed Martin Co. (NYSE:LMT) rose 1% during trading on Thursday . The stock traded as high as $469.22 and last traded at $468.61. Approximately 997,247 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 1,137,235 shares. The stock had previously closed at $463.96.

Analyst Ratings Changes

LMT has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their price objective 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 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 decreased 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 report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $591.21.

Lockheed Martin Trading Down 0.2 %

The stock has a market capitalization 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 company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business’s fifty day simple moving average is $511.39 and its two-hundred day simple moving average is $534.41.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in the business. 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 worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. increased 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 worth $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Virtue Capital Management LLC increased its position in shares of Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares in the last quarter. Old West Investment Management LLC increased 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 worth $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Finally, World Investment Advisors LLC increased 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 worth $3,781,000 after purchasing an additional 2,297 shares in the last quarter. Institutional investors and hedge funds 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.