Lockheed Martin (NYSE:LMT) Trading 0.8% Higher - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report) rose 0.8% on Monday . The stock traded as high as $492.05 and last traded at $490.60. Approximately 1,331,181 shares traded hands during trading, an increase of 28% from the average daily volume of 1,037,778 shares. The stock had previously closed at $486.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $584.40.

Lockheed Martin Stock Up 0.8 %

The company's 50-day moving average price is $504.80 and its 200 day moving average price is $536.03. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $116.29 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts' consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm's revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 EPS. As a group, analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the third quarter valued at about $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at $42,000. 74.19% of the stock is currently owned by institutional investors.

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.