Lockheed Martin (NYSE:LMT) Shares Down 1.2% – What’s Next?

Shares of Lockheed Martin Corporation (NYSE:LMT) traded down 1.2% during trading on Tuesday . The company traded as low as $573.39 and last traded at $575.6470. 1,518,272 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 2,503,822 shares. The stock had previously closed at $582.43.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LMT shares. TD Cowen raised their target price on Lockheed Martin from $520.00 to $600.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. UBS Group boosted their price target on shares of Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft cut their target price on Lockheed Martin from $517.00 to $492.00 and set a “hold” rating on the stock in a research report on Wednesday, December 10th. Susquehanna reiterated a “positive” rating and set a $660.00 price objective on shares of Lockheed Martin in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $586.00 price objective on shares of Lockheed Martin in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $543.82.

Lockheed Martin Trading Down 1.2%

The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The company’s 50 day moving average is $485.76 and its 200 day moving average is $472.71. The stock has a market capitalization of $133.20 billion, a price-to-earnings ratio of 32.14, a PEG 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 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 during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter in the prior year, the business earned $6.84 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Insider Activity

In related news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Carnegie Investment Counsel raised its holdings in shares of Lockheed Martin by 11.4% in the 3rd quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after purchasing an additional 3,031 shares during the period. VCI Wealth Management LLC bought a new stake in Lockheed Martin in the third quarter valued at approximately $3,075,000. DAVENPORT & Co LLC raised its stake in Lockheed Martin by 22.4% in the third quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after buying an additional 4,652 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after acquiring an additional 2,270 shares during the period. Finally, Laffer Tengler Investments Inc. increased its holdings in shares of Lockheed Martin by 482.6% during the 2nd quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock worth $3,232,000 after acquiring an additional 5,781 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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.