Lockheed Martin (NYSE:LMT) Trading 2.9% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares shot up 2.9% on Tuesday . The company traded as high as $505.83 and last traded at $504.74. 424,172 shares changed hands during trading, a decline of 61% from the average session volume of 1,082,789 shares. The stock had previously closed at $490.32.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Susquehanna dropped their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Price Performance

The stock has a 50-day moving average price of $503.20 and a two-hundred day moving average price of $536.20. The stock has a market cap of $120.03 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 3.96 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.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CVA Family Office LLC boosted its holdings in shares of Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its position in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its position in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 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.