JPMorgan Chase & Co. Cuts Lockheed Martin (NYSE:LMT) Price Target to $540.00

Lockheed Martin (NYSE:LMT) had its target price trimmed by JPMorgan Chase & Co. from $546.00 to $540.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company’s stock.

Several other brokerages have also recently issued reports on LMT. Wells Fargo & Company lowered 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 note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna dropped their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin Stock Performance

NYSE LMT opened at $490.60 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The business has a fifty day moving average of $504.80 and a 200-day moving average of $535.05. The stock has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released 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. 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts predict that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in shares of 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 buying an additional 1,556,609 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares in the last quarter. Wellington Management Group LLP raised 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 worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. FMR LLC boosted its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during 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.