Truist Financial Initiates Coverage on Lockheed Martin (NYSE:LMT)

Equities researchers at Truist Financial assumed coverage on shares of Lockheed Martin (NYSE:LMT) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $579.00 price target on the aerospace company’s stock. Truist Financial’s price target suggests a potential upside of 19.70% from the stock’s current price.

Several other analysts also recently commented on LMT. Citigroup upped their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $590.40.

Lockheed Martin Price Performance

NYSE LMT opened at $483.71 on Tuesday. The company has a market cap of $114.66 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 4.05 and a beta of 0.48. 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’s fifty day moving average price is $508.95 and its 200 day moving average price is $535.59. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95.

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, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 earnings per share. As a group, equities research analysts forecast that Lockheed Martin will post 26.88 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of the company. J2 Capital Management Inc purchased a new position in Lockheed Martin during the fourth quarter worth about $503,000. Moss Adams Wealth Advisors LLC boosted its position in shares of Lockheed Martin by 10.9% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 531 shares of the aerospace company’s stock worth $258,000 after buying an additional 52 shares during the period. Monarch Capital Management Inc. lifted its stake in Lockheed Martin by 11.9% during the 4th quarter. Monarch Capital Management Inc. now owns 2,428 shares of the aerospace company’s stock worth $1,180,000 after acquiring an additional 258 shares in the last quarter. IAM Advisory LLC boosted its holdings in Lockheed Martin by 1.3% during the 4th quarter. IAM Advisory LLC now owns 4,136 shares of the aerospace company’s stock valued at $2,010,000 after acquiring an additional 55 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its position in Lockheed Martin by 3.4% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,846 shares of the aerospace company’s stock valued at $1,379,000 after acquiring an additional 94 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.