Royal Bank of Canada Lowers Lockheed Martin (NYSE:LMT) Price Target to $550.00

Lockheed Martin (NYSE:LMT) had its target price cut by investment analysts at Royal Bank of Canada from $570.00 to $550.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 19.79% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. TD Cowen raised their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Susquehanna dropped their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Up 1.0 %

Lockheed Martin stock opened at $459.12 on Wednesday. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The firm has a market capitalization of $108.83 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm’s fifty day moving average price is $495.56 and its two-hundred day moving average price is $536.97. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, equities research analysts predict that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of LMT. International Assets Investment Management LLC increased its stake in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

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.