Lockheed Martin (NYSE:LMT) Lowered to “Buy” at StockNews.com

Lockheed Martin (NYSE:LMT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other brokerages also recently issued reports on LMT. TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Down 1.0 %

Shares of Lockheed Martin stock traded down $5.88 during trading on Wednesday, hitting $571.10. 1,293,007 shares of the stock traded hands, compared to its average volume of 1,054,155. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The stock’s fifty day simple moving average is $579.95 and its 200 day simple moving average is $513.50. The firm has a market cap of $137.03 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business posted $6.77 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently modified their holdings of the business. CVA Family Office LLC increased its position in shares of Lockheed Martin by 1.1% in the third 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. Quad Cities Investment Group LLC grew its position in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares during the period. HTLF Bank increased its stake in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC raised its position in shares of Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.