Lockheed Martin (NYSE:LMT) Trading Down 0.7% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares fell 0.7% on Wednesday . The company traded as low as $480.42 and last traded at $481.07. 217,769 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,072,015 shares. The stock had previously closed at $484.46.

Analyst Ratings Changes

A number of brokerages have weighed in on LMT. Barclays decreased 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 report on Monday, January 6th. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. UBS Group raised their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup raised their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $590.40.

Lockheed Martin Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a 50 day simple moving average of $508.95 and a 200 day simple moving average of $535.59. The company has a market capitalization of $114.23 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Company Profile

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.