Lockheed Martin (NYSE:LMT) Reaches New 52-Week High Following Analyst Upgrade

Shares of Lockheed Martin Corporation (NYSE:LMT) reached a new 52-week high on Monday after Truist Financial upgraded the stock from a hold rating to a buy rating. Truist Financial now has a $605.00 price target on the stock, up from their previous price target of $500.00. Lockheed Martin traded as high as $554.27 and last traded at $550.7020, with a volume of 666971 shares. The stock had previously closed at $542.92.

Several other research firms also recently commented on LMT. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $515.00 price objective (up from $465.00) on shares of Lockheed Martin in a report on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Sanford C. Bernstein raised their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Citigroup assumed coverage on shares of Lockheed Martin in a research note on Thursday, December 11th. They issued a “neutral” rating and a $505.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $514.76.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the sale, the chief operating officer directly owned 1 shares in the company, valued at $491.04. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Lockheed Martin by 1.0% in the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC grew its position in Lockheed Martin by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after acquiring an additional 19,459 shares during the last quarter. Wellington Management Group LLP increased its stake in Lockheed Martin by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company’s stock worth $1,190,493,000 after purchasing an additional 79,491 shares during the period. Invesco Ltd. increased its stake in Lockheed Martin by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock worth $1,096,294,000 after purchasing an additional 87,663 shares during the period. Finally, Legal & General Group Plc lifted its position in Lockheed Martin by 6.6% in the third quarter. Legal & General Group Plc now owns 1,022,940 shares of the aerospace company’s stock valued at $510,662,000 after purchasing an additional 63,430 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The stock has a market cap of $126.56 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 1.55 and a beta of 0.24. The business has a 50 day moving average price of $473.83 and a two-hundred day moving average price of $468.13.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping the consensus estimate of $6.33 by $0.62. The company had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

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.