JPMorgan Chase & Co. Cuts Lockheed Martin (NYSE:LMT) Price Target to $540.00

Lockheed Martin (NYSE:LMT - Get Free Report) had its target price reduced by JPMorgan Chase & Co. from $546.00 to $540.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 11.00% from the stock's previous close.

LMT has been the subject of several other reports. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 3rd. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday. They set a "buy" rating and a $579.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $584.40.

Lockheed Martin Stock Up 0.5 %

LMT traded up $2.51 during trading hours on Thursday, hitting $486.48. 956,431 shares of the company's stock were exchanged, compared to its average volume of 1,130,932. 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 has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market cap of $115.32 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The firm has a 50 day moving average of $507.59 and a 200 day moving average of $535.22.

Lockheed Martin (NYSE:LMT - Get Free Report) 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Analysts predict that Lockheed Martin will post 26.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently bought and sold shares of the stock. Edgestream Partners L.P. lifted its position in shares of Lockheed Martin by 63.6% in the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company's stock valued at $1,481,000 after acquiring an additional 1,232 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Lockheed Martin by 6.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,449 shares of the aerospace company's stock valued at $23,565,000 after acquiring an additional 3,189 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Lockheed Martin by 5.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,077 shares of the aerospace company's stock valued at $3,773,000 after acquiring an additional 420 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Lockheed Martin by 35.0% in the 2nd quarter. Blair William & Co. IL now owns 42,953 shares of the aerospace company's stock valued at $20,063,000 after purchasing an additional 11,134 shares during the period. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Lockheed Martin by 33.7% in the second quarter. Carolinas Wealth Consulting LLC now owns 802 shares of the aerospace company's stock worth $374,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds 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.