Lockheed Martin (NYSE:LMT) Shares Up 1.7% – What’s Next?

Lockheed Martin Corporation (NYSE:LMT) rose 1.7% during trading on Wednesday . The stock traded as high as $588.97 and last traded at $585.83. Approximately 1,815,052 shares changed hands during trading, a decline of 26% from the average daily volume of 2,451,093 shares. The stock had previously closed at $576.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LMT shares. Sanford C. Bernstein restated a “market perform” rating and issued a $586.00 price target on shares of Lockheed Martin in a research note on Monday, January 12th. Truist Financial set a $605.00 target price on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Friday, January 9th. Jefferies Financial Group boosted their price objective on Lockheed Martin from $500.00 to $540.00 and gave the stock a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $543.82.

Lockheed Martin Price Performance

The business’s 50 day simple moving average is $488.14 and its 200-day simple moving average is $473.50. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $135.56 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 1.66 and a beta of 0.24.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same period last year, the firm posted $6.84 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the transaction, the chief operating officer directly owned 1 shares in the company, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of LMT. United Financial Planning Group LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC lifted its stake in Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin during the second quarter worth $28,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Lockheed Martin in the second quarter worth $29,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.