Lockheed Martin (NYSE:LMT) Price Target Cut to $695.00

by · The Cerbat Gem

Lockheed Martin (NYSE:LMT – Get Free Report) had its price target dropped by equities researchers at Susquehanna from $705.00 to $695.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective indicates a potential upside of 23.18% from the company’s current price.

Several other equities research analysts also recently commented on LMT. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada raised their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $606.71.

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Lockheed Martin Stock Down 1.2 %

Shares of NYSE LMT opened at $564.21 on Wednesday. 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 firm has a market cap of $135.38 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. The company’s fifty day simple moving average is $579.95 and its 200 day simple moving average is $513.50. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Lockheed Martin by 60,592.0% in the third 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 during the last quarter. Wulff Hansen & CO. increased its holdings in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp raised its stake in Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the period. Capital Research Global Investors boosted its position in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Lockheed Martin by 219.3% in the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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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.

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