Lockheed Martin (NYSE:LMT) Price Target Raised to $626.00

Lockheed Martin (NYSE:LMT) had its price target lifted by equities research analysts at Robert W. Baird from $519.00 to $626.00 in a research report issued to clients and investors on Tuesday. Robert W. Baird’s price target indicates a potential upside of 9.61% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $571.10 on Tuesday. The business has a 50-day simple moving average of $579.95 and a 200-day simple moving average of $513.50. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The company has a market cap of $137.03 billion, a PE ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47.

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

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter worth $246,000. Parcion Private Wealth LLC raised its holdings in Lockheed Martin by 96.6% during the third quarter. Parcion Private Wealth LLC now owns 2,617 shares of the aerospace company’s stock worth $1,530,000 after purchasing an additional 1,286 shares in the last quarter. CWC Advisors LLC. acquired a new stake in Lockheed Martin in the third quarter valued at about $829,000. Burford Brothers Inc. boosted its holdings in Lockheed Martin by 6.7% in the 3rd quarter. Burford Brothers Inc. now owns 2,873 shares of the aerospace company’s stock valued at $1,679,000 after purchasing an additional 180 shares in the last quarter. Finally, Country Club Bank increased its position in Lockheed Martin by 11.6% during the 3rd quarter. Country Club Bank now owns 4,342 shares of the aerospace company’s stock worth $2,529,000 after purchasing an additional 452 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.