Lockheed Martin (NYSE:LMT) Hits New 12-Month High at $594.32

Lockheed Martin Co. (NYSE:LMT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $594.32 and last traded at $593.79, with a volume of 38694 shares. The stock had previously closed at $584.56.

Analysts Set New Price Targets

LMT has been the subject of a number of analyst reports. UBS Group lifted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Down 0.4 %

The firm has a 50 day moving average price of $562.41 and a 200-day moving average price of $497.26. The firm has a market cap of $144.76 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the prior year, the company posted $6.73 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of hedge funds have recently modified their holdings of LMT. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter worth about $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its position in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. 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.